Gold futures rose Wednesday ahead of the Federal Reserve’s interest rate hike.
February gold settled before the Fed news at $1,076.80 an ounce, up $15.20, or 1.4%.
Prices dropped a bit in the moments after the Fed’s rate announcement at 2 pm ET, but have since leveled off near $1,1070.
The Federal Open Market Committee decided to raise the target range for the federal funds rate from zero to 0.25 percent.
Looking further out, the Fed sees only “gradual” rate hikes in 2016.
Published: 2015-12-16 18:31:00 UTC+00
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