Gold settled lower on Wednesday after the US Federal Reserve kept interest rates unchanged and signalled concern about deflation risks, while stock prices surged amid a revival in risk appetite. The 7 percent rise in the SPDR Gold Trust's bullion holdings this year is widely attributed to safe haven buying. The trust, an exchange-traded fund which issues securities backed by physical stocks of bullion, has seen interest soar as investors seek out physical gold.
SPDR SOARS Platinum and palladium firmed a touch. Spot platinum was at $950.50 an ounce, up 0.6 percent from its last finish of $945, while spot palladium was at $187.00 an ounce, down 0.8 percent from its previous close of $188.50. Most of 56 analysts in a Reuters precious metals survey said platinum prices should stay depressed this year as an expected supply dip fails to balance falling demand from car makers.
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