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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.
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