Gold prices fell Wednesday to log their lowest finish in about four weeks, then moved a bit higher in electronic trading after the U.S. Federal Reserve's policy announcement. The U.S. dollar held modest strength against most currency rivals as the Fed signaled that it's still on track to raise interest rates at a gradual pace. June gold was last at $1,249 an ounce in electronic trading, but had climbed above $1,250 in the immediate wake of the Fed news. Prices lost $8.50, or 0.7%, to end at $1,248.50 an ounce for the session-the lowest settlement for gold futures since April 5, according to FactSet data.
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