Gold Prices Decline for Fifth Session in Row

Gold prices continued their downward trend on Wednesday, falling for the fifth consecutive session, amid the rise of the U.S. Dollar (USD) ahead of the release of the United States Federal Reserve policy statement.

The yellow metal futures for February delivery plunged by $6, or 0.3%, to close at the level of $1,844.90 per ounce.

Further decline was seen in after-hours trading for the gold most active contracts following the Fed’s decision to maintain its target rate unchanged at 0% to 0.25%, as well as the pace of asset purchases at $120 billion per month.