Gold futures settled with a gain on Wednesday, then moved higher in electronic trading as the U.S. dollar continued to weaken in the wake of the Federal Reserve’s decision to leave a short-term U.S. interest rate unchanged as expected. The central bank, however, also said it expects inflation “to move up this year” in a sign it’s likely to hike rates at its next meeting in March. Following the news, which came after the gold futures settlement, February gold was at $1,340.30 an ounce in electronic trading. It had finished the session at $1,339, up $3.60, or 0.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News