Gold prices rose on Thursday in Asia following the FOMC’s decision to abandon any expectation of a rate hike in 2019.
Gold futures were up 1.3% at $1318.45 on the Comex division of the New York Mercantile Exchange by 1:00 AM ET (05:00 GMT).
The precious metal began its rally overnight when the Federal Reserve released its latest monthly policy statement on interest rates.
The Fed left rates unchanged at its March meeting amid concerns over slowing growth both domestically and abroad. The central bank has signalled for months now that it has no intention to unravel U.S. economic growth with disruptive rate hikes.
Source : Investing.com