Gold rose to trade above $950 on Thursday, after the Federal Reserve said it would keep interest rates near zero, while a decline in the dollar provided an additional boost. The US central bank also made its clearest statement to date on Wednesday that it sees the recession nearing an end.
Gold was at $952.55 per ounce at 0606 GMT, up 0.7 percent from New York's notional close of $946.05. Market participants said, however, that gold was unlikely to climb much further on the content of the meeting itself, which ended without any surprises. The precious metal has been trading within a range of $920-$980 recently, and Kamei said it was likely to remain stuck within these levels.
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