Gold was flat Thursday morning, unable to extend recent gains after the Federal Reserve offered no clarity on when it intends to raise interest rates.
The Fed removed any calendar-based references from its monetary policy statement yesterday afternoon, leaving traders with few clues about whether tightening will begin this summer, or anytime this year for that matter.
Gold, which rebounded earlier in the week as the dollar softened, turned lower on the news.
Gold was down $5 at $1205 an ounce on the New York Mercantile Exchange this morning.
The material has been provided by InstaForex Company – www.instaforex.com