Gold heading for first weekly gain since February after Fed meeting

Reuters, via CNBC/03-17-17

Gold rose on Friday and was on course for its first weekly gain since February as the dollar hit a five-week low following the Federal Reserve’s cautious message on interest rates, making bullion cheaper for holders of non-U.S. currencies.

The Fed raised U.S. rates on Wednesday as expected, but left its earlier forecast of three rate increases this year unchanged, disappointing some investors who had hoped for hints of a possible fourth hike in 2017.

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