The most active gold contract for June delivery rose 13.70 U.S. dollars, or 0.68 percent, to close at 2,037 dollars per ounce.
Shortly after the floor trading of gold closed, the Federal Open Market Committee meeting ended, and the Federal Reserve decided to raise the key interest rate by 25 basis points to a range of 5-5.25 percent.
Nevertheless, the Fed revamped the guidance in a dovish direction, saying additional policy firming will depend on the lags with which the monetary policy affects economic activity and inflation, and economic and financial developments.
Gold futures fell in electronic trading after the Fed's interest rate hike.
Economic data released on Wednesday are mixed. The final reading of the S&P U.S. services purchasing managers' index came in at 53.6 in April, as against an initial reading of 53.7. And the ISM services index inched up to 51.9 percent in April from 51.2 percent in March, a sign that most U.S. businesses grew at a slightly faster pace in April.
The Automated Data Processing Inc. reported that U.S. employment in the nonfarm private sector rose by 296,000 in April, compared with a gain of 142,000 in March.
Silver for July delivery rose 6.20 cents, or 0.24 percent, to close at 25.681 dollars per ounce. Platinum for July delivery fell 16.50 dollars, or 1.53 percent, to close at 1,061.80 dollars per ounce.
Latest comments