Gold prices traded near record-high levels on Thursday, as U.S. yields and dollar dipped after the U.S. Federal Reserve hinted it may pause the rate-hike cycle.
Spot gold rose 0.5% at 2,049.31 per ounce by 0130 GMT. Earlier in the session, prices rose to $2,072.19 per ounce and hovered close to an all-time high of $2,072.49 scaled in 2020.The Fed raised its benchmark overnight interest rate by 25 basis points, but no longer said that it "anticipates"increases would be needed, only that it will watch incoming data to determine if more hikes "may be appropriate.
The dollar index was down 0.2%, making greenback-priced gold more affordable for overseas buyers. Benchmark U.S. Treasury yields also dropped.
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