Prices For Gold Climb, Oil Gains More Ground After Fed's Interest-rate Decision

By Myra P. Saefong Markets MarketWatch Pulse

Gold prices climbed Wednesday, while oil prices gained more ground, finding support as the U.S. dollar extended its decline in the wake of the Federal Reserve’s decision to raise its benchmark short-term interest rate, as expected, for the second time in three months. Gold for April delivery was at $1,212.10 an ounce in electronic trading. It had settled before the announcement at $1,200.70, down $1.90, or 0.2%, for the session. April West Texas Intermediate oil rose 90 cents, or 2%, to $48.62 a barrel, ahead of the settlement on the New York Mercantile Exchange. It was trading around $48.42 before the Fed news.

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