Gold Holds Near $1,250, Oil Extends Gains After Fed Announcement

By Markets MarketWatch Pulse

Gold futures held ground near $1,250 an ounce in electronic trading Wednesday, while oil futures on the New York Mercantile Exchange extended their gains following the Federal Open Market Committee’s monetary policy statement. The central bank left interest rates unchanged but didn't offer any hints about a possible move on interest rates at the next meeting in June. Gold for June delivery was at $1,250.10 an ounce in electronic trading after settling at $1,250.40 ahead of the announcement. June oil was up 98 cents, or 2.2%, to $45.02 on Nymex, ahead of its settlement. It traded at $44.70 shortly before the Fed news.

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