Gold Futures Fall In Electronic Trading After Fed Raises Interest Rates

Gold futures moved lower in electronic trading late Wednesday from their settlement level after the U.S. Federal Reserve announced a one-quarter point increase in interest rates. The ICE U.S. Dollar Index was trading 0.4% higher after the decision, pressuring dollar-denominated prices for the yellow metal. December gold was last at $1,159.60 an ounce in electronic trading, down from the $1,163.70 settlement, which had marked a rebound from Tuesday's finish at a roughly 10-month low.