Gold slips as Fed keeps rates at 3.75% to 4%
Business
Gold prices slipped on Thursday after the US Federal Reserve decided not to change interest rates, keeping them at 3.75% to 4%.
Spot gold dropped 0.7% to $4,037.98 per ounce as traders waited for key US inflation data that could shape future rate decisions.
With the Fed holding steady, the odds of a December rate hike dipped slightly, making gold a bit less appealing for now.
China gold imports via HK surge
Meanwhile, China's net gold imports via Hong Kong shot up over 28% in September, hitting their highest level in five months.
With this surge, the odds of a December rate hike dipped slightly, making gold a bit less appealing for now.