Global gold prices rose during trading on Thursday, supported by the decline in the dollar and Treasury bond yields after the Federal Reserve (US central bank) kept interest rates unchanged and amid growing investor bets that the central bank may have reached the end of this cycle of raising interest rates, according to Reuters.
Spot gold prices rose 0.1% to 1983.77 dollars per ounce.
Gold prices in US futures rose 0.2 % to 1991.80 dollars.
“I think there may be some support from the idea that the Fed seems to be signaling that the rate hike is over,”said Ilya Spivak, head of global macroeconomics at testy life.
The Federal Reserve kept interest rates steady as widely expected.
The dollar index fell 0.5 %, and benchmark ten-year US Treasury bond yields fell to their lowest levels in more than two weeks.
For other precious metals, silver settled in spot transactions at USD 22.98 per ounce, platinum increased 0.6 % to USD 926.08 and palladium climbed 1% to USD 1114.02
