The most active gold contract for December delivery rose 0.3 U.S. dollars, or 0.02 percent, to close at 1,650 dollars per ounce.
Shortly after the floor trading is closed, the Federal Reserve concluded its monetary policy meeting and decided to raise the rate by 75 basis points to the 3.75 to 4 percent range. This is the sixth rate hike by the Federal Reserve in 2022 and the fourth straight 0.75 percentage-point hike.
"In determining the pace of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments," the FOMC statement stated, signaling that more hikes are likely, although they may be in smaller increments.
Gold extended gains in electronic trading following the FOMC statement.
The Automated Data Processing Inc. reported Wednesday that U.S. employers added 239,000 jobs in October, well above forecasts.
Silver for December delivery fell 7.3 cents, or 0.37 percent, to close at 19.594 dollars per ounce. Platinum for January delivery rose 0.4 dollars, or 0.04 percent, to close at 950.9 dollars per ounce.
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