Gold Extends Gains Past $1,300 An Ounce Post-Fed Meeting

By Markets MarketWatch Pulse

Gold prices shot further past $1,300 an ounce on Thursday after breaking through that level in the previous session. Gold for August delivery jumped $24.40, or 1.9%, to $1,313.20 an ounce. Gold pushed past $1,300 an ounce on Wednesday after The Federal Reserve officials left interest rates unchanged and cut its expectations for rate hikes in the next two years. The dollar pushed lower against the yen and other currencies overnight after the Bank of Japan held policy steady at its monetary policy meeting. That inspired the yen to rise. The dollar and gold tend to move in inverse directions.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.