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Gold gains after US Fed maintains accommodative stance

Spot gold was up 0.2% at $1,784.94 per ounce by 0101 GMT, having dipped to $1,762 in the previous session, its lowest since April 16. U.S. gold futures rose 0.6% to $1,784.50 per ounce.

April 29, 2021 / 07:30 AM IST

Gold prices rose on Thursday bolstered by the U.S. Federal Reserve's pledge to maintain easy monetary policy to aid economic recovery, while a weaker dollar provided further support.

FUNDAMENTALS

* Spot gold was up 0.2% at $1,784.94 per ounce by 0101 GMT, having dipped to $1,762 in the previous session, its lowest since April 16. U.S. gold futures rose 0.6% to $1,784.50 per ounce.

* The dollar index edged 0.1% lower against its rivals, boosting gold's appeal for other currency holders.