"The committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run," FOMC said.

The precious metal was worth US$1,258 on the spot market earlier, about $14/oz higher than the same time yesterday.

In Toronto, Barrick Gold (CN:ABX) closed up 3.3% yesterday while on the other side of the pond, Randgold Resources (LN:RRS) closed 0.74% higher.

In Australian trade, gold miners made some of the bigger gains on the S&P/ASX 200.

Resolute Mining (AU:RSG) was up around 6.5% and both St Barbara (AU:SBM) and Saracen Mineral Holdings (AU:SAR) had gained about 4.5% in afternoon trade.

Diversified miner Independence Group (AU:IGO) rose more than 6% and nickel miner Western Areas (AU:WSA) was up around 5% as the nickel price strengthened on the London Metal Exchange.

The S&P/ASX 200 followed the S&P500 and FTSE100 which had closed lower, while the S&P/TSX and TSX-V Composite indices had both closed slightly higher.