Gold Futures Fall In Electronic Trading After Fed Raises Interest Rates

By Myra P. SaefongMarketsMarketWatch Pulse

Gold futures moved lower in electronic trading late Wednesday from their settlement level after the U.S. Federal Reserve announced a one-quarter point increase in interest rates. The ICE U.S. Dollar Index was trading 0.4% higher after the decision, pressuring dollar-denominated prices for the yellow metal. December gold was last at $1,159.60 an ounce in electronic trading, down from the $1,163.70 settlement, which had marked a rebound from Tuesday's finish at a roughly 10-month low.

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