NEW YORK (AP) — Investors are refraining from making big bets on commodities amid evidence suggesting little threat of inflation.
Gold prices, which have soared this week, are struggling to break through the $1,100 level. December futures are up $2 at $1,089.30 an ounce on the New York Mercantile Exchange.
The small gains come a day after the Federal Reserve left its benchmark interest rate unchanged and downplayed the threat of inflation.
Investors have been worried that record-low interest rates could trigger inflation down the road, driving demand for gold, which is used as a hedge against inflation. But the Fed sent a clear signal that sustaining the economic recovery is a bigger concern.
Other metals are little changed.
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