Fed Rate Hold Lifts US Gold Prices Above $4,076

US gold prices surged on Thursday as the Federal Reserve kept interest rates unchanged, boosting demand for safe-haven assets. Spot gold traded above $4,076 per troy ounce, while US gold futures climbed 1% to $4,074.30 per ounce.

The gains came after the Fed maintained its benchmark interest rate at 3.50%-3.75%, and the US dollar index slipped about 0.2%, making dollar-denominated gold cheaper for overseas buyers.

Analysts pointed to heightened geopolitical tensions in the Middle East, including recent US military action against Iranian targets, which boosted demand for precious metals.

Investors are now closely watching upcoming US inflation data for further clues on the Fed's monetary policy path.