Gold Climbs, Oil Pares Losses After Fed Announcement

Gold futures climbed in electronic trading Wednesday, while oil futures pared losses on the New York Mercantile Exchange after the Federal Open Market Committee left interest rates unchanged and said economic data over the last six weeks had been mixed. Gold for August delivery was at $1,293.20 an ounce in electronic trading after settling higher for a sixth-straight session, at $1,288.30 ahead of the announcement. July oil was down 20 cents, or 0.4%, for the session at $48.25 on Nymex, ahead of its settlement on Nymex. It was trading at $48.20 shortly before the Fed news.