Gold erased losses after Federal Reserve officials left interest rates unchanged and reiterated their commitment to containing inflation without offering a clear signal on whether to tighten monetary policy in December.
Bullion wavered around $4,050 an ounce as Treasury yields and the dollar fluctuated. The Federal Open Market Committee voted 10-2 to hold its benchmark federal funds rate in a range of 3.75% to 4%. Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, preferring to raise rates by a quarter percentage point.