Gold price up as Fed commits to low rates

MINING.COM | Gold prices edged higher on Thursday after the US Federal Reserve painted a grim economic outlook and vowed to keep interest rates lower for the foreseeable future.


Earlier in the session, spot gold rose 0.4% to a one-week high of $1,744.60 per ounce, before pulling back to $1,735.05 by noon EST. US Gold futures also rose 1.3% to $1,737.50 per ounce, heading for its biggest gain in more than a month.


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