Mubasher: Gold settles higher on Thursday after the Fed positive statements regarding the interest rates.

Comex April gold rose $9.7, or 0.7%, to close at $1,325.2 per ounce, rising over 3% in a month.

Earlier in January, the Fed stated that it would be “patient” regarding any further increase in interest rates.

The central bank kept interest rates stable as expected, ranging from 2.25% to 2.5%.

“In light of global economic and financial developments and muted inflation pressures, the Federal Open Market Committee (FOMC) will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes,” the Fed added in a statement.