Gold Gains Over 1% After Fed Rate Hold
Gold prices rose by more than 1% during Wednesday's trading session, following the U.S. Federal Reserve's decision to hold interest rates steady. This decision led to a decline in the US dollar and a drop in Treasury bond yields. The spot price of gold increased by 1.2% to reach $4,076.41 per ounce, supported by the weaker dollar and lower bond yields, which enhanced the metal's appeal as a safe haven. This movement comes amid ongoing market assessments of U.S. monetary policy directions and their impact on the economy, inflation, and global markets.
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