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This index aims to track variations in the market price of select gold futures contracts. Its composition is defined by a sole, unfunded gold futures agreement.

Gold edged up in early Asian trade after slipping in the wake of the Fed's first rate hike in over three years.

Spot gold and silver prices are lower in late-afternoon U.S. trading Wednesday, after the Federal Reserve raised interest rates for the first time since 2023 and signaled that more tightening may be needed to contain inflation.

Gold breaks 50-day support, but a falling wedge keeps a bullish breakout scenario alive above $4,367.

The gold market was able to withstand an expected rate hike and forecasts for additional tightening later this year; however, the precious metal took a bruising as Federal Reserve Chair Kevin Warsh came out swinging hard during his press conference.

The Federal Reserve announced on Wednesday that the Federal Open Market Committee (FOMC) voted unanimously in favor of a quarter-point rate hike, as expected by the market consensus, while the latest economic projections showed all but two policymakers believe another rate hike will be warranted in 2026.