Gold advances as US Fed hints rate-hike pause

Gold prices reach near-record levels after the U.S. Federal Reserve raised interest rates by a predicted 25 basis points but hinted it may pause the next interest rate increase. The price of spot gold rose 0.8% to $2,055.54 per ounce and U.S. gold futures increased by 1.3% to $2,063.20 per ounce. The Fed raised its overnight interest rate, but said it will watch incoming data to determine whether more hikes will be needed. The fall in the dollar index by 0.2% made greenback-priced gold more affordable for overseas buyers.