Gold Climbs as Fed Signals Continued Focus on Inflation Control

Gold prices rose on Thursday as markets digested comments from U.S. Federal Reserve Chairman Kevin Warsh on inflation and interest rates after the central bank's policy meeting.

The Fed left interest rates unchanged, but Warsh reaffirmed its commitment to bringing inflation under control, leaving markets uncertain about its next move.

Marex analyst Edward Meir said that Warsh's comments were 'surprised' and 'somewhat disappointed', implying a lack of action on raising interest rates.

Gold prices rose as high as 2% on Wednesday but settled at 0.3% higher to $4,076.29 per ounce by Thursday morning.