Gold Ends Sharply Higher As Dollar Continues Fed-inspired Retreat

Gold futures settled higher on Thursday as the U.S. dollar fell a day after the Federal Reserve's decision to leave interest rates unchanged and stepped back from its forecast for four interest-rate hikes to two this year. Gold benefits from a weak dollar as it makes the metal, which is denominated in the U.S currency, more attractive price-wise. April gold rose $35.20, or $2.9%, to settle at $1,265.

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