2024-02-01T05:24:17+00:00
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/ Gold prices rose on Thursday, as investors held on to hopes that the Federal Reserve would cut interest rates significantly this year even after the US central bank ruled out the idea of cutting them in March.
Spot gold rose 0.4 percent to $2,045.65 an ounce by 0213 GMT.
The metal touched its highest level in more than two weeks at $2,055.89 on Wednesday before paring gains to end the session up 0.1 percent.
Meanwhile, US gold futures fell 0.2 percent to $2,063.20.
The Federal Reserve left interest rates unchanged and ruled out cutting them in the spring. It also dropped a long-standing signal of possible further increases in borrowing costs.
The dollar index rose 0.2 percent, while benchmark U.S. Treasury yields approached their lowest levels in more than two weeks at 3.9426 percent.
Among other precious metals, spot silver rose 0.3 percent to $22.97 an ounce, platinum rose 0.2 percent to $919.95 and palladium rose 0.4 percent to $980.34.