Gold on MCX settled up 0.61% at 30449 ahead of fed meet while Comex Gold settled at their highest levels in a week rose by 1.6 percent to settled at $1,333 per ounce as the dollar weakened further in the wake of the Federal Reserve’s decision to raise a key short-term interest rate. The central bank stuck to its December forecast for three rate increases this year, but pushed up their expected rate path in 2019 and 2020. Investors eyed Fed Chairman’s Jerome Powell’s press conference for clues on how aggressive the central bank panel will be with rates from here. Investors across financial markets had priced in expectations the Fed will raise its benchmark rate by a quarter-percentage point. The Fed did raise its economic forecasts, but Jaime said it was unclear whether the Fed really can reach that higher long run rate, which is where the Fed would stop raising interest rates. The dollar lost more ground as Powell briefed journalists, and he did speak about the trade concerns in response to a question.
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