Gold futures settled lower on Wednesday, as the investment appeal of the bullion dulled after Federal Reserve hiked the interest rate by 25 basis points to the 4.5% to 4.75% range. However, the losses were limited as the rate hike is in anticipated range.
Gold futures for April finished lower by $2.50 or 0.1% to settle at $1942.80 ounce on the Comex division of the New York Mercantile. However, spot gold rose by 0.09% or $1.67 to $1,952.19 per ounce.