Gold prices reversed course to drop more than 1% on Wednesday after the U.S. Federal Reserve held its benchmark interest rate steady but pointed to a hike in borrowing costs later this year, sending the dollar higher.
Spot gold was down 0.7% at $4,299.89 per ounce by 2:40 p.m. EDT (1840 GMT). U.S. gold futures settled 0.6% higher at $4,381.40.
