Gold Climbs In Electronic Trade, Oil Pares Gains After Fed Statement

By Myra P. SaefongMarketWatch Pulse

Gold futures settled lower Wednesday then climbed in electronic trading after the Federal Reserve voted to keep a key U.S. interest rate unchanged and implied that a September rate hike hasn't been ruled out. Nymex oil futures pared some of its gains following the statement. August gold traded at $1,096.60 an ounce in electronic trading on Globex, after settling at $1,092.60 on Comex, down $3.60, or 0.3%, before the Fed news. September oil added 83 cents, or 1.7%, to $48.88 a barrel ahead of the Nymex close, compared with $48.97 before the news.

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