Gold up after rate cut; silver hits all-time peak

GOLD prices reversed course to rise on Wednesday after the US Federal Reserve's rate cut, though uncertainty over next year’s policy outlook persisted, while silver hit an all-time peak.

- 

Spot gold rose 0.7% at $4,236.57 per ounce at 3:17 p.m. ET (2017 GMT). US gold futures for February delivery settled 0.3% lower at $4,224.70.

The Fed cut interest rates in another divided vote, but signaled it will likely pause further reductions in borrowing costs as officials look for clearer signals about the direction of the job market and inflation.

“Gold traders like the result today, it’s trading at day’s highs after surviving a bout of profit taking,” said Tai Wong, an independent metals trader.