Gold prices rise after US Federal Reserve decision to hold interest rates steady

Gold prices rose in Thursday trading as markets assessed comments by U.S. Federal Reserve Chair Kevin Warsh on efforts to combat inflation, following the central bank’s decision to keep interest rates unchanged at its latest monetary policy meeting.

Spot gold rose 0.4 percent to $4,080.38 per ounce, while U.S. August gold futures climbed 1.1 percent to $4,078 per ounce.

In other precious metals markets, spot silver rose 1 percent to $58.20 per ounce, platinum increased 0.3 percent to $1,616.84, and palladium gained 1.9 percent to $1,270.50 per ounce.