Gold prices inched higher on Thursday, after hitting a three-week low in the previous session, as investors took solace in the U.S. Federal Reserve’s plan to start tapering its stimulus without hiking rates for the time being.
Spot gold XAU= rose 0.4% to $1,776.99 per ounce by 0847 GMT, after touching its lowest since Oct. 13 on Wednesday. U.S. gold futures GCv1 gained 0.7% to $1,775.60.
In a widely expected move, the Fed said it would start trimming its monthly asset purchases in November with plans to end them by mid-2022.
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.