COMEX Gold futures stayed near five month low after the Federal Reserve kept monetary policy unchanged but signaled its intention to raise rates later this year thanks to underlying strength in the US economy. A June rate hike remains on the table, as the Fed has projected at least two more rate hikes in 2018 following the most recent tightening in March. Also in March, the Fed raised its growth forecasts for 2018 and 2019 and projections pointed to an extra rate increase in 2019. Moreover, it was revealed that wages and prices are now growing at 2 percent a year, according to the Feds preferred inflation measure. Core inflation, excluding volatile food and energy costs, jumped to 1.9% on an annual basis in March compared to 1.6% in February. Stocks came under pressure on Wednesday following the Federal Reserves announcement of its latest monetary policy decision. The major averages pulled back firmly into negative territory, with the Dow falling to its lowest closing level in a month. COMEX Gold futures are currently trading flat around $ 1307 per ounce. MCX Gold futures closed at Rs 30925 per 10 grams after the recent break under Rs 31000 mark and should see some more selling pressure as long as the counter stayed under the same mark.