Gold prices rose during trading on Thursday, as investors continued to assess the outcome of the U.S. Federal Reserve meeting.
The Fed decided to keep interest rates unchanged and followed up with remarks from its chairman, Kevin Warsh, regarding the continued fight against inflation.
Spot gold rose 0.4% to $4,080.38 per ounce.
Meanwhile, U.S. gold futures for August delivery rose 1.1% to $4,078 per ounce.
Despite the decision to keep interest rates steady, markets are still awaiting the Federal Reserve’s next move.
Data from the FedWatch tool indicates that the probability of a rate hike at the September meeting has fallen to about 57%, compared to 81% before the release of the monetary policy statement.
In contrast, both the Bank of England and the Bank of Japan are expected to keep interest rates unchanged.
Amid ongoing concerns about inflationary pressures linked to the war in the Middle East.
Other precious metals also rose, with silver climbing 1% and platinum 0.3%.
Palladium jumped 1.9%, amid continued demand for safe-haven assets.
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