FEDERAL RESERVE

Gold held steady on Wednesday, hovering near a lifetime high around $1,778 an ounce struck in the previous session, but further gains could be capped by a rebound in equities after the U.S. Federal Reserve's vow to keep rates near zero.

A reorientation of Russia to East from West could be a complete economic game-changer.

Gold climbed to a third record in a row on Wednesday, extending its best rally since 2008 as a dive in French bank stocks sent new shudders through anxious financial markets, sending U.S. stocks skidding.

Gold hit fresh record highs on Wednesday as U.S. stock markets resumed their decline on concerns over the U.S. and euro zone economies, and after the Federal Reserve said U.S. interest rates would stay near zero for at least two years.

The U.S. Federal Reserve on Tuesday took the unprecedented step of promising to keep interest rates near zero for at least two more years and said it would consider further steps to help growth, sparking a rebound in stocks.

Oil led a rebound among commodities on Wednesday as investors went bargain hunting for riskier assets after the U.S. Federal Reserve promised to extend near-zero interest rates for two more years.

So much for the vaunted Federal Reserve consensus.

To say it's been an unsettling time for U.S. stock investors would be an understatement. The Dow has been on a wild ride, with plunges followed by sudden reversals. Look for market choppiness to continue until investors determine whether the Fed's latest monetary policy decision -- low interest rates for two years -- will be enough to rev-up U.S. GDP growth.

Gold held steady Wednesday, hovering near a lifetime high around $1,778 an ounce struck in the previous session, but further gains could be capped by a rebound in equities after the U.S. Federal Reserve's vow to keep rates near zero.

World shares clawed back more ground on Wednesday as investors rattled by a run of heavy losses took comfort from the Federal Reserve's pledge to keep interest rates near zero for two more years.

The Federal Reserve released a statement Tuesday saying that the Federal Open Market Committee, which met in June, accepted that the economic growth so far this year has been slower than its expectations.

Goldman Sachs said on Wednesday a third round of quantitative easing from the Federal Reserve is likely after the U.S. Federal Reserve promised to keep rates at extraordinarily low levels for at least two more years.

World shares bounced back strongly from recent losses on Wednesday as investors took comfort from the Federal Reserve's pledge to keep interest rates near zero for two more years.

Wall Street economists see odds of around one-in-three the United States will slip back into recession, heightening expectations the Federal Reserve will launch another round of unconventional credit easing.

The rupee snapped a 6-day weakening streak on Wednesday as global equities rebounded and the dollar fell after the U.S. Federal Reserve promised to keep rates low for at least two years.

Extreme market volatility has sparked comparisons to the 2008 global credit crisis, but Washington's ability to help out weak financial firms is dramatically different.

U.S. stocks clawed back most of Monday's losses as a U.S. Federal Reserve promise of at least two more years of near-zero interest rates overshadowed its warning about slowing economic growth. The Fed's statement gave markets a glimmer of hope, with stocks' gains accelerating into Tuesday's close.

The Federal Reserve on Tuesday took the unprecedented step of promising to keep interest rates near zero for at least two more years and said it would consider further steps to help growth, sparking a rebound in stocks.

U.S. stocks rebounded sharply on Tuesday after a major sell-off, but markets remained vulnerable to selling if the Federal Reserve fails to ease fears of a double-dip recession.

U.S. stocks soared in turbulent trading Tuesday, coming off the worst three day selloff since the financial crisis, as investors took in stride the Federal Reserve's pledge to keep interest rates near zero at least through mid-2013.

"We view the FOMC statement as aggressively dovish, even beyond our expectations," said Dan Dorrow of Connecticut-based Faros Trading.