|  Gold prices had been pressured by strength in the U.S. dollar during most of Wednesday until the Fed released forecasts indicating it is likely to maintain "a highly accommodative stance for monetary policy" and that U.S. economic conditions are "likely to warrant exceptionally low levels for the federal funds rate at least through late 2014." The news was taken as inflationary long-term, and drove gold and otherprecious metals sharply higher.
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