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Gold settles lower, little changed after Fed statement

30828 gold settles lower little changed after fed statement

Gold futures settled lower on Wednesday, then traded little changed in electronic trading after Federal Reserve officials said they expect it “will soon be appropriate to raise” interest rates. Worries about the effects rising interest rates could have on nonyielding bullion have been among the key bearish near-term drivers for gold. February gold GCG22, -1.01% was at $1,830.70 an ounce in electronic trading, following a settlement at $1,829.70, down $22.80, or 1.2%, for Wednesday’s session, the lowest finish since Jan. 18, FactSet data show. Prices had settled Tuesday at their highest since Nov. 18.

Source: Marketwatch

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