Gold prices pared some gains on Wednesday after the US Federal Reserve raised interest rates and signaled further increases in borrowing costs for coming months.
Spot gold was up 0.9% at $4,330.19 per ounce as of 2:03 p.m. EDT, following a peak of 1.6% to around $4,365.57/oz earlier in the session.
The Fed's decision sparked a sell-off in commodities markets, with gold prices stabilizing after an initial surge.
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