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- Gold gained after the FOMC rate decision
Gold gained after the FOMC rate decision
Gold rose by 90% to $1,186.80 an ounce amid a weaker dollar after the Federal Open Market Committee left the key interest rate unchanged at 0.25% and hinted that the liftoff might happen later than investors and analysts had expected. The Fed said that further improvements in employment and inflation are needed in order to justify a rate hike.
A weaker dollar pushes gold up and low rates give extra support to the non-interest-paying metal.
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