Gold futures settled slightly higher on Wednesday on weaker dollar and US Treasury bond yields. The yellow metal notched $1,666.80 an ounce in electronic trading shortly after the announcement as the FOMC’s monetary policy statement sounded slightly more dovish than expected. The Fed announced a 75-basis-point hike in benchmark interest rates.
Gold futures for December edged higher by 30 cents to settle at $1650.00 ounce on the Comex division of the New York Mercantile. Spot gold rose by $1.56 or 0.10% or 1,636.80 per ounce.