Gold rises as investors react to Fed rate hike

CHICAGO, May 4 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Thursday as investors reacted to the Federal Open Market Committee (FOMC) meeting announcement.

The most active gold contract for June delivery rose 18.70 U.S. dollars, or 0.92 percent, to close at 2,055.70 dollars per ounce.

The Federal Reserve raised interest rates by 25 basis points on Wednesday. T