Gold Prices Rise, Recover from Losses After Fed’s

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Gold prices rose on Friday in Asia, recovering from losses suffered in the previous session following the conclusion of the U.S. Federal Reserve’s latest policy meeting.

Gold Futures for December delivery traded 0.4% higher at 1,512.25 per ounce on the Comex division of the New York Mercantile Exchange by 12:42 AM ET (04:42 GMT).

The Fed cut rates for the second time this year on Wednesday, again by a quarter point. The federal funds rate is now 1.75% to 2%.

The U.S. dollar, which usually moves in directions opposite to the yellow metal, remained largely unchanged following the move as the cut was widely expected.

Gold prices recovered today, but traders remained cautious amid uncertainty over the next Fed move.

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