Investing.com – Gold was up on Thursday morning in Asia to its highest level in over a week. The U.S. Federal Reserve did not provide a timeline for its tapering plans in its latest policy decision, adding that it was “ways away” from considering interest rate hikes.
Gold Futures rose 0.81% to $1,814.20 by 12:16 AM ET (4:16 AM GMT), after hitting their highest level since Jul. 20 at $1,817.35 earlier. The dollar, which usually moves inversely to gold, edged down on Thursday after hitting a two-week low during the previous session.
The Fed handed down its decision on Wednesday, with asset tapering making it onto the agenda of the F two-day Federal Open Market Committee meeting that preceded it.
Gold Up as Fed Policy Decision Fails to Provide Asset Tapering Timeline
Western Han Gold by Gary Todd is licensed under CC0 1.0
Western Han Gold by Gary Todd is licensed under CC0 1.0