Gold futures drop after Fed statement

Source: Investing.com
© Scanpix/Reuters
Gold prices declined on Thursday amid traders changing their estimates on US interest rate hike schedule. Prices fluctuated between $1,278.30 and $1,280.60 per troy ounce, whereas gold futures for April delivery slid by 0.51% to $1,280.60 per troy ounce on Comex, compared to 0.44% loss of $5.70 on the previous day. The US Dollar Index slightly strengthened and was close to last week's 11-year high, which, along with higher interest rates, is considered to be bearish for gold.
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