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In the case of physical gold, the expected returns would depend on the current gold price. For gold ETF, the value would depend on the price of the ETF. ....
Spot gold gained 0.2% to $1,942.56 per ounce by 0130 GMT, looking set for a more than 1% weekly gain after prices touched one-month highs on Wednesday. U.S. gold futures climbed 0.2% to $1,969.40. ....
The Fed raised interest rates by a quarter-of-a-percentage point on Wednesday, setting the benchmark overnight interest rate in the 5.25%-5.50% range, and highlighting that another 25 bps hike could be possibly at the September meeting based on a wide range of data. ....
Gold prices were steady following the Federal Reserves decision to halt interest rate hikes, with the outlook of a further increase later in the year suppressing its growth. Although the Fed is putting a pause on interest rate increases now, traders are pricing in a 65% chance of a hike in July. Furthermore, GLD, the worlds largest gold-backed ETF, said its holdings fell 0.19%. Silver prices dropped 0.2% and platinum remained flat. Meanwhile, Europe s central bank is highly likely to raise borrowing costs to their highest level in 22 years on Thursday and leave the door open for more hikes despite the euro zone economy faltering. ....