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Gold gains as BoJ minutes & Fed statement

Gold prices gained in Asia on Friday with minutes from the Bank of Japan casting a shadow on easy monetary policies. Gold rose considerably on Thursday, one day after the Federal Open Market Committee (FOMC) maintained the target range on its benchmark Federal Funds Rate at a level between 0.25 and 0.50%. The Fed concluded its two-day March meeting without adjusting rates, amid heightened global financial and economic risks and moderate firming of inflation. It marked the second consecutive meeting the FOMC left short-term rates unchanged, after the U.S. central bank ended a seven-year zero interest rate policy by raising rates 25 basis points in mid-December. Investors continued to react to a surprising move from the Federal Reserve to lower its interest rate forecast for the near-term future.

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