Fed Keeps Rates Unchanged, Gold Prices Soar

The US Federal Reserve (Fed) kept interest rates unchanged in its latest policy meeting, as predicted by most investors. This marks the fifth consecutive time the Fed has not adjusted interest rates.

Gold prices surged immediately after the announcement, increasing by more than $40 per ounce within minutes and briefly exceeding $4,100 per ounce.

The market had been worried that the Fed might raise interest rates at this meeting, but the decision to keep them unchanged was seen as a relief for gold investors.

The three members of the Federal Open Market Committee who voted against keeping interest rates unchanged proposed raising them by another 25 basis points, equivalent to 0.25 percentage points.