Spot gold gained 0.3 percent at $1,316 per ounce as of 0114 GMT, after touching its highest since Feb. 28 at $1,319 in the previous session.
U.S. gold futures rose 1.1 percent to $1,319.10 an ounce.
Spot Gold Needs a Break $1313 For Target $1321—$1330
The dollar nursed heavy losses in Asia on Thursday after the Federal Reserve stunned markets by abandoning all plans to raise rates this year, a signal its three-year campaign to normalise policy might be at an end.
Prime Minister Theresa May made an impassioned appeal to British lawmakers to support her on Wednesday after the European Union said it could only grant her request to delay Brexit for three months if parliament next week backed her plans for leaving.
Having downgraded their U.S. growth, unemployment and inflation forecasts, policymakers said the Fed’s benchmark overnight interest rate, or fed funds rate, was likely to remain at the current level of between 2.25 percent and 2.50 percent at least through this year.
Shares in Asia rose on Thursday after the Feed’s policy decision, but concerns over slowing global growth and U.S.-China trade talks are expected to limit gains.
U.S. President Donald Trump warned on Wednesday that the United States may leave tariffs on Chinese goods for a “substantial period” to ensure that Beijing complies with any trade agreement.
