Carlo Alberto De Casa, market analyst at Kinesis Money, said gold prices have to increase slightly before they can continue rising, as the long-term outlook remains positive.
On Wednesday, the Federal Reserve kept interest rates steady, as was widely expected.
Policymakers are finding it difficult to determine whether tightening monetary policy is already enough to control inflation, or whether an economy that is consistently beating expectations may need further adjustment.
According to CME Group’s FedWatch service, traders expect, by 72 percent, that the Federal Reserve will hold interest rates again in December.
The dollar index fell 0.5 percent, and US standard ten-year Treasury bond yields fell to their lowest levels in more than two weeks.
Price movements
By 12:52 GMT, gold rose in spot trading 0.35 percent to $1,989.65 per ounce, and US gold futures rose 0.51 percent to $1,997.50.
As for other precious metals, silver rose in spot transactions 0.3 percent to $23.04 per ounce, and platinum rose 1 percent to $929.53.
Palladium settled at $1,102.56.
#Gold #rises #dollar #Treasury #yields #decline