Gold prices end lower, extend losses after the Fed rate decision

Gold futures settled lower on Wednesday, then extended their losses into the electronic trading after the Federal Reserve announced a hike in the fed funds rate of 25 basis points to the 4.5% to 4.75% range, as expected. April gold
GCJ23,
+1.45%
was at $1,939.20 an ounce in electronic trading shortly after the announcement. That follows a settlement at $1,942.80 an ounce, down $2.50, or 0.1%, for Wednesday’s session.