Gold prices retreated slightly after the Federal Reserve maintained its current interest rates and provided minimal clarity on future policy moves. The decision left traders uncertain about the likelihood of a rate hike before the end of the year.
Bullion dropped as much as 0.4%, nearing $4,050 an ounce, following three days of modest gains. The Federal Open Market Committee voted 10-2 to keep the benchmark federal funds rate unchanged.
Fed Chair Kevin Warsh hinted that the central bank may reduce the number of interest-rate decisions from eight to six per year. Analysts suggested this change could introduce more uncertainty into the market.