Gold futures climbed in electronic trading Thursday, as the Federal Reserve left interest rates unchanged.
Prices
for the metal had settled with a loss Thursday shortly before the Fed
announcement, which was one of the most anticipated in recent memory.
In its announcement, the central bank implied a hike is still on tap before the end of the year.
Following
the Fed announcement, gold for December delivery traded at $1,127.20 an
ounce in electronic trading on Globex. That’s up from an earlier
settlement on Comex, where prices fell $2, or 0.2%, to settle at $1,117
Thursday.
The
U.S. dollar index traded sharply lower after the Fed news, providing
support for dollar-denominated gold in the electronic session.
On
Wednesday, prices registered their largest single-session gain in
nearly a month as the Fed was seen as reluctant to lift rates in the
wake of a weak reading on U.S. inflation.
On
Thursday, data showed weekly jobless claims fell, underscoring the
strength of the labor market, but declines in August housing starts and
the September Philadelphia Fed’s manufacturing index highlighted
potential economic concerns.
Other metals on Thursday settled mixed ahead of the Fed decision. December silver rose 9.9 cents, or 0.7%, to $14.984 an ounce and December copper ended flat at $2.452 a pound. October platinum shed $7.30, or 0.8%, to $968.40 an ounce and December palladium lost $12.75, or 2.1%, to $599.20 an ounce.
Source : MarketWatch
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