Gold prices settled at their highest in a week Wednesday, but drifted lower after-hours as traders assessed the latest interest rate decision from the Federal Reserve.
The Federal Reserve kept interest rates unchanged on Wednesday, as expected.
Policy makers said a rate hike remains on the table for December, but gave little indication that they will actually tighten before year’s end.
With U.S. inflation barely picking up, the Fed is in no real hurry to hike rates ahead of what might be another rough winter.
Dec. gold was up $10.30, or 0.9%, to settle at $1,176.10/oz. However, prices slipped near $1170 shortly after the Fed announcement.
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