Gold rallies after Fed, silver steadies

NEW YORK, Apr 28 (Business Recorder): Gold rose by almost 1 per cent Thursday and silver steadied after a sharp sell-off in the previous session, with both benefiting from the US Federal Reserve announcement it would keep interest rates very low. Gold prices briefly rose to a session high after the Fed said it would end its $600 billion bond buying stimulus programme in June while saying it is in no rush to raise short-term interest rates it has kept near zero to support the US economy. Still, the white metal is on track for a 21 per cent gain this month and a 47-per cent rise this year, making it the top performing precious metal and commodity of 2011.