Doha: Gold prices fell more than 1 percent at settlement today after the Federal Reserve left interest rates unchanged and declined to provide any indication of when they might be cut. Meanwhile, strong US economic data dampened the appeal for the precious metal. Spot gold fell 1.5 percent to $3,275.92 per ounce.

According to Qatar News Agency, the Federal Reserve's decision to maintain the current interest rates has signaled a cautious approach towards monetary policy, contributing to the decline in gold prices. The stability in interest rates often affects the attractiveness of gold, as it does not yield any interest. This decision, combined with robust economic figures from the US, further reduced the demand for gold as a safe-haven asset.

Investors are closely monitoring these developments, particularly the Fed's future course of action regarding interest rates. The central bank's stance has left market participants uncertain about the timing of any potential rate cuts, which could influence investment strategies surrounding gold and other commodities.