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

Gold futures settled higher on Wednesday then climbed more in electronic trading after the Federal Reserve dropped the word 'patient' from its interest-rate guidance. Nymex oil futures pared losses following the statement. April gold traded at $1,156.80 an ounce in electronic trading on Globex, after settling at $1,151.30 on Comex, up $3.10, or 0.3%, before the Fed news. April oil fell 63 cents, or 1.5%, to $42.83 a barrel ahead of the Nymex close, compared with $42.60 before the news.