Gold prices nudged higher Wednesday afternoon, as the Federal Reserve sounded a cautious note on the economy.
February gold settled $4.40, or 0.4%, lower at $1,115.80/oz., but rallied post-market after the Fed’s decision to hold steady on interest rates.
The Fed said US “economic growth slowed” since its last meeting in December, and that inflation remains stubbornly low.
Boosted by its safe haven appeal, US gold for April jumped toward $1125 an ounce, a two-month peak.
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