Gold futures nudged higher Thursday morning amid signs the Federal Reserve will keep interest rates on hold for the time being.
Yesterday, the Fed said US “economic growth slowed” since its last meeting in December, and that inflation remains stubbornly low.
The central bank lifted rates for the first time in a decade in December, but it seems further tightening is off the table until the economy picks up.
Boosted by its safe haven appeal, US gold for April was up 4 dollars at $1120 an ounce, having touched multi-month highs above $1126.
At 8:30 am ET, the Commerce Department is scheduled to release its durable goods orders report for December.
The material has been provided by InstaForex Company – www.instaforex.com