London: Gold has held the biggest advance in two weeks after the Federal Reserve refrained from raising borrowing costs and cut its outlook for rate increases in the long term, hurting the dollar.
Gold traded at USD 1,332.85 an ounce. It reached the highest since September 9 yesterday.
Silver prices, however fell 0.5 per cent to USD 19.74 an ounce, after jumping 3.1 per cent on Wednesday, the most since July. Bullion was little changed today after jumping 1.6 per cent yesterday. While the US central bank still sees a rate hike this year, it trimmed its projection for increases in 2017 to two from three. The Fed decision came the same day that the Bank of Japan tweaked policy to give it scope to keep easing to revive the economy and inflation. — PTI
