: Gold settles higher for a 5th straight session, holds gains after the Fed rate decision

Gold futures settled higher on Wednesday for a fifth straight session, marking the longest streak of daily session gains since January, according to Dow Jones Market Data. Prices for the metal then held onto the bulk of their gains in the electronic trading shortly after the Federal Reserve announcement. The central bank left its benchmark fed funds rate in the 5.25% to 5.50% range, as expected, and signaled one more interest-rate increase this year. In electronic trading shortly after the Fed announcement, December gold GCZ23 was at $1,963.80 an ounce. That follows a settlement at $1,967.10 an ounce, up $13.40, or 0.7%, for Wednesday’s session.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.