WASHINGTON (dpa-AFX) - Gold futures were little changed Thursday amid muted reaction to yesterday's hawkish Federal Reserve statement.
The Fed raised interest rates and said they plan two more rate hikes this year. More importantly, policy makers now predict three rate hikes for 2019, up from two previously forecast.
The Fed now plans to raise rates three times in both 2018, 2019 and 2020. That's up from a previous prediction of just two rate hikes in 2019.
Expectations for economic growth in 2018 have strengthened due to additional fiscal stimulus from the tax cuts and a strong jobs market.
Gold was up $8 at $1329 an ounce, supported by appeal as a hedge against inflation. Silver and copper prices were also higher as the dollar wobbled.
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