DOT Plot

The Federal Reserve kept its benchmark fed funds rate range unchanged at 3.50%-3.75%, extending its pause for a sixth consecutive meeting. Bitcoin rose above $64,400 after the decision, while stock indexes trimmed losses and gold advanced as investors turned to Chair Kevin Warsh’s press conference for policy signals.

Gold enters a pivotal stretch after a sharp dollar setback and a stronger bid in XAUUSD. The June 16-17 FOMC minutes due Wednesday, July 8, may determine whether the latest reversal has enough rate support to continue.