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Gold Dips Below USD4,900
(MENAFN) The value of gold dropped below the $4,900 mark on Wednesday for the first time since January 21, following the Federal Reserve’s decision to maintain its benchmark rate.
The US Fed opted to leave its key interest rates unchanged within the "3.5-3.75% range," aligning with analysts’ expectations.
Gold prices fluctuated between "$4,835.8 and $5,016.45" on Wednesday and were trading around "$4,885 per ounce" as of 1815GMT, representing a 2.45% decrease compared to the previous day.
Earlier in January, gold had reached a record peak, approaching the "$5,600 threshold."
Similarly, the cost of silver per ounce also declined by 2.8%, settling at "$77."
The US Fed opted to leave its key interest rates unchanged within the "3.5-3.75% range," aligning with analysts’ expectations.
Gold prices fluctuated between "$4,835.8 and $5,016.45" on Wednesday and were trading around "$4,885 per ounce" as of 1815GMT, representing a 2.45% decrease compared to the previous day.
Earlier in January, gold had reached a record peak, approaching the "$5,600 threshold."
Similarly, the cost of silver per ounce also declined by 2.8%, settling at "$77."
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