WASHINGTON (dpa-AFX) - Gold prices continue to rebound Thursday morning, extending strong gains from the previous session after the Federal Reserve said it would not raise interest rates next month.
Citing concerns that U.S. economic growth was moderating due in part to the rapid rise in the dollar, the Fed signaled it would push out any interest rate to at least mid-year.
Gold, which started the week at its lowest since November, has been on the rise since yesterday afternoon's Fed announcement.
Gold for April was up $14 at $1165 an ounce this morning, joining the broader metals complex in post-Fed rally helped by a weaker dollar.
Silver was up 3 percent to $15.53 an ounce, although well off its early high of $15.63.
Palladium, platinum and copper prices also turned higher.
On the economic front, the Labor Department is scheduled to release its jobless claims report for the week ended March 14th at 8:30 am ET. The consensus estimate calls for an increase in claims to 293,000 from 289,000 in the previous week.
Copyright RTT News/dpa-AFX