NewsBreak: Gold Futures Hold Above $1,500 as Fed Again Cuts Rates

© Reuters.  © Reuters. – held above the key $1,500 an ounce level on Wednesday after the announced the second in U.S. for this year, trimming rates by 25 basis points as it did in July.

for December delivery settled up $2.40, or 0.2%, at $1,515.80 per ounce on the Comex division of the , before the Fed announcement, in anticipation of the rate cut. At 2:35 PM ET (18:05 GMT), the contract traded at $1,506 an ounce, down $7.30, or 0.5%., reflective of trades in bullion, traded below $1,500.

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