Gold slips after Fed holds rates at 3.50%–3.75% in 11-1 vote; three oppose easing tilt

Gold prices edged lower after the Federal Reserve said Wednesday that the Federal Open Market Committee (FOMC) will keep the target range for the federal funds rate unchanged at 3.50% to 3.75%, in line with market expectations. The decision to hold was approved by an 11-1 vote, though the statement highlighted a growing split over how policymakers assess the balance of risks, with three members dissenting on the Committee's easing bias. In its statement, the Fed said recent data indicate economic activity has been expanding at a solid pace. Job gains have remained low on average, and the unemployment rate has been little changed in recent months. Inflation remains elevated, partly reflecting the recent rise in global energy prices. Full article at Kitco: