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Gold costs climbed on Wednesday after the U.S. Fed toned down its aggressive method to reining in inflation.
Spot gold was up 1.7% at $1,973.52 per ounce by 3:56 p.m. EDT (1956 GMT), after advancing as a lot as 2%. U.S. gold futures settled 0.4% greater at $1,949.60 earlier than the Fed announcement, Reuters reported.
The Fed raised rates of interest by 1 / 4 of a share level, however indicated it was on the verge of pausing additional will increase in borrowing prices amid latest turmoil in monetary markets.
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