Metals Stocks: Gold prices settle lower, then climb after Fed shifts away from ‘patient’ stance on rates

Gold prices settled lower Wednesday, easing back from the previous day’s settlement at their highest in 14 months, then climbed after the U.S. Federal Reserve left key interest rates unchanged, but shifted away from its “patient” stands on rates.

In a statement that followed the gold futures’ settlement, the Fed held benchmark interest rates steady between 2.25%-2.50%. However, officials also said that over the last six weeks, “uncertainties” have increased about the outlook and they shifted away from their prior patient stance.

Fed officials appear sharply divided about whether the Fed will cut interest rates this year, judging from the central bank’s projections of future interest rate moves, known as the “dot plot.

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