Spot gold rose 0.1 percent to $1,244.56 per ounce at 0506 GMT, after declining the most since November 27 in the previous session.
Gold prices steadied on Thursday, after shedding half a percent in the previous session as the US Federal Reserve delivered a less-dovish outlook on monetary tightening than many had expected.
In a widely anticipated decision, the US central bank hiked interest rates by 25 basis points on Wednesday. But what took markets by surprise was the Fed’s commitment to retain the core of its plan to tighten monetary policy, despite rising uncertainty about global economic growth.
Asian shares retreated on Thursday from their previous session’s declines. Wall Street dipped sharply on Wednesday following the Fed’s statement.
For More News and Updates Stay Connected: