The most active gold contract for February delivery rose 4.10 U.S. dollars, or 0.21 percent, to close at 1,997.30 dollars per ounce.
Shortly after the floor trading of gold closed, the Federal Open Market Committee (FOMC) meeting ended with an announcement. The Federal Reserve kept rate unchanged as expected, and lowered interest rates projections in 2024.
Gold futures rallied in electronic trading as the U.S. dollar dropped after the Fed announcement.
The U.S. Labor Department reported Wednesday that the U.S. producer price index (PPI), which tracks inflation before it reaches consumers, was flat from October to November after having fallen 0.4 percent in October.
Silver for March delivery fell 9.50 cents, or 0.41 percent, to close at 22.921 dollars per ounce. Platinum for January delivery fell 8.90 dollars, or 0.96 percent, to close at 922.10 dollars per ounce.
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