Gold inches up after Fed’s move; physicals cautious

On Wednesday, Gold edged up on bargain hunting driven by a drop in stock markets and after the U.S. Federal Reserve said it would keep interest rates low, but a lack of physical buying could cap gains.

The press release is quoted as saying:

Spot gold added $1.30 an ounce to $1,203.15 an ounce by 0322 GMT, still below a 3-week high of $1,212.61 hit last week and the 50-day moving average at $1,209.60.

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