CHICAGO, Jan. 30 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange settled slightly higher on Wednesday, but rose further following Federal Reserve's dovish statement.
The most active gold contract for April delivery went up 0.3 dollar, or 0.02 percent, to settle at 1,315.50 dollars per ounce.
The precious metal has posted gains in the past five sessions, supported by geopolitical uncertainties, such as Brexit, and concerns about the future of world economy.
Gold prices went even higher during electronic trading after the U.S. Federal Reserve left interest-rates unchanged, adding it would be "patient" with its next rate move.
"In light of global economic and financial developments and muted inflation pressures, the committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes," the U.S. central bank's open market committee said in a statement.
The Fed's dovish approach will pressure the U.S. dollar and, in turn, boost gold prices, said Market Watchers.
The U.S. dollar index, a measure of the dollar against a basket of other major currencies, was firm in the morning but weakened significantly after the Fed's decision, thus sent gold prices about 10 dollars higher in the electronic trading.
As for other precious metals, silver for March delivery went up 8.8 cents, or 0.56 percent, to close at 15.927 dollars per ounce. Platinum for April delivery went up 0.4 dollar, or 0.05 percent, to settle at 816.20 dollars per ounce.
