Gold recovers early losses, trades around the flatline after the Fed raises rates

Gold prices were flat Wednesday, after the Federal Reserve announced a half percentage rate hike

U.S. gold futures advanced 0.1% to $1,872

The move was largely expected by the Street. “A 50 basis point hike is now priced in by markets … If the statement has a still more hawkish bias, then gold is likely to come under pressure once again,” said OANDA senior analyst Jeffrey Halley

“If the statement remains mostly unchanged in its guidance, then a short-term recovery to $1,880 is possible as the U.S. dollar is likely to fall

The dollar remained close to 20-year peaks, making greenback-priced gold less attractive for overseas buyers

Russian forces pounded targets in eastern Ukraine on Tuesday, even as the European Union prepared to slap oil sanctions on Moscow

Bullion is seen as a safe store of value during times of economic and political crises

Spot silver fell 1.04% to $22.32 per ounce and platinum rose 0.75% to $969.19. Palladium fell 0.23% to $2,250.36