Federal Reserve and Gold Futures

precious metal: However, as the U.S. stocks opened higher Thursday, investors began their technical sell-off of gold futures, according to analysts, according to Xinhua China. Additionally, the price of the precious metal was put under further pressure as the market remains unsure of when the next rate hike, from a 0.50 rate to a 0.75 rate will occur. Gold futures climbed up early Thursday as the Federal Reserve statement, released Wednesday, said the U.S. central bank will maintain the target range for the federal funds rate at 0.25 percent to 0.5 percent. According to the CMEGroup Fedwatch tool, the current implied probability of a hike from 0.50 to 0.75 is at 12 percent for the March meeting, and 20 percent at the April meeting. The index is a measure of the dollar against a basket of major currencies. Gold was prevented from falling further as the U.S. Dollar Index went down Thursday. (news.financializer.com). As reported in the news.