Gold traded little changed after the Federal Reserve officials raised their assessment of the labor market and the economy.
The
metal swung between year-to-date gains and losses more than 10 times in
2015, gyrating as traders tried to gauge the timing of U.S.
interest-rate increases. Higher rates drive investors to favor assets
that pay interest, including new bonds, curbing the appeal of gold,
which generally offers returns only through price gains.
Gold
for immediate delivery fell 0.1 percent to $1,181.37 an ounce at 2:04
p.m. in New York, according to Bloomberg generic pricing.
The central bank’s benchmark rate has been near zero percent, a record low, since 2008.
Source: Bloomberg
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