: Gold prices end lower, then extend declines after the Fed rate decision

Gold futures settled lower on Wednesday, then extended their decline into the electronic trading after the Federal Reserve announced a hike in the fed funds rate of 50 basis points to the 4.25% to 4.5% range, as expected. February gold GCG23 was at $1,808 an ounce in electronic trading shortly after the announcement. That follows a settlement at $1,818.70 an ounce, down $6.80, or 0.4%, 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.