Gold compensated for its early losses and recorded gains of more than 1% during Wednesday’s trading, following the US Federal Reserve’s decision to keep interest rates unchanged, which led to a decline in the dollar and US Treasury bond yields.
The price of gold in spot transactions rose by 1.2%, reaching $4,076.41 per ounce, by 2:16 pm EST.
Agency quotes “Reuters” Independent metals trader Tai Wong said that gold jumped by about 1% after stabilizing interest rates, noting that the decision witnessed three opposition votes, but none of them came from members of the Federal Reserve Board.
Wong added that attention is now turning to the Council’s press conference, considering that gold, after temporarily falling below the $4,000 level, may have passed the stage of immediate danger.
