The statement released immediately following this month’s FOMC meeting revealed what many analysts and market participants believed would be the outcome of this month’s meeting: that the central bank would leave interest rates unchanged.

Gold prices traded under strong selling pressure today as the Federal Open Market Committee meeting begins.

As of 4 o’clock EDT, gold futures are trading up $5.50 on the day, with December’s futures contract currently fixed at $1277.30. This marks the second day of higher pricing in gold.