Gold Settles Lower but Rises Following Fed Statement

Gold futures settled lower on Wednesday, as rising U.S. Treasury bond yields pressured the yellow metal ahead of the release of the Federal Reserve policy statement.

Gold futures for April delivery declined by $3.80, or 0.2%, to finish at $1,727.10 per ounce.

After the Federal Reserve announced its decision to maintain interest rates unchanged and to keep the current pace of asset purchases, presumably until 2023, the yellow metal achieved gains as the U.S. Dollar (USD) declined across the board.

Spot gold was last seen trading higher by $13.06, or 0.75%, at 1,744.84 an ounce.