Gold Steady As US Fed Leaves Interest Rates Unchanged

Gold held steady early on Thursday, clinging to gains from the previous session when it rose 1.5 % to a 2-week high on a weaker dollar after the U.S. Federal Reserve left interest rates unchanged. 

 

Spot gold was little changed at $1,338.87 an ounce at 0112 GMT. Bullion on Wednesday touched a high of $1,342.18, its best since July 14.  U.S. gold rose 0.9 % to $1,338.7 an ounce.

 

The dollar index, which tracks the greenback against a basket of six major rivals, fell 0.4 % to 96.589. Earlier this week, it had risen as high as 97.569, its highest level since March.

 

 Gold Corp, the world's largest gold producer, reported a rise in second-quarter profit on Wednesday and said it plans to sell its 50 % stake in a western Australia mine to cut debt.

 

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