Spot gold was up 0.3% to $2 326.03 an ounce at 9:07 a.m. in Singapore, as silver rose toward $27 an ounce.
Gold edged higher as the Federal Reserve struck a less hawkish tone than expected when holding interest rates steady, and Japanese authorities were suspected to have intervened to support the yen, hurting the dollar. Bullion rose toward $2 330 an ounce in early Asian trade after ending 1.5% higher in the prior session, the biggest one-day gain since mid-April.
On global currency markets, the yen advanced more than 3% against the dollar, fueling speculation that Japanese authorities intervened for a second time this week to support the currency. A gauge of the greenback dropped, making the precious metal more attractive to most buyers. Gold has climbed by about 13% this year, hitting a record last month, even as the timeline for Fed cuts has been pushed back.
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