Spot gold extended losses on Wednesday after the Fed announcement.
The U.S. Federal Reserve voted Wednesday not to raise its key interest rate, as central bank officials expressed concern with the pace of economic growth. The move was largely expected in financial markets.
Immediately prior to the Fed announcement at 1:55 pm ET, spot gold was down 0.57 percent at $1,249.62 per ounce. U.S. gold futures fell 0.54 percent to $1,250.20 an ounce.