Gold futures settled lower Wednesday then edged higher in electronic trading after the Federal Reserve indicated that the pace of interest-rate hikes will be slower. Nymex oil futures pared losses following the statement. August gold traded at $1,181.20 an ounce in electronic trading on Globex, after settling at $1,176.80 on Comex, down $4.10, or 0.4%, before the Fed news. July oil fell 48 cents, or 0.8%, to $59.49 a barrel ahead of the Nymex close, compared with $59.12 before the news.
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