The market reacted with a relief rally, pushing spot gold to $4,073.60 per ounce. While the asset retreated slightly from its session peak, it maintains a gain of over 1% for the day. Investors are closely parsing the committee's division, as the hawkish dissent suggests that the path for future monetary policy remains constrained despite the current hold.
Gold rallies as Federal Reserve holds rates steady
Gold prices surged by $40 immediately following the Federal Reserve's decision to maintain the benchmark interest rate between 3.50% and 3.75%. Despite this pause, the central bank signaled a persistent tightening bias, revealing that three committee members actively pushed for a 25 basis point hike during the latest meeting.
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