Wall Street closed sharply lower on Wednesday after the US Federal Reserve kept interest rates unchanged and projected only one rate cut this year, as officials assessed economic risks stemming from higher oil prices and the war between the United States, Israel, and Iran.
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Gold prices fell on Wednesday after the US Federal Reserve kept its overnight interest rate unchanged, in line with expectations.
Spot gold traded down 2.2% at $4,895.61 per ounce, while gold futures declined 2.4% to $4,889.80 per ounce.
Despite holding policy steady, the Fed ...