ISTANBUL

The price of gold saw below $4,700 level on Thursday as the Fed kept its benchmark rate constant.

The US Fed has kept its benchmark rates unchanged at 3.5-3.75% range on Wednesday, in line with market forecasts.

The price of gold, hovering between $4,686.89 and $4,867.12 during Thursday, is at around $4,690 per ounce as of 0910GMT, down 2.7 day-by-day.

In January, the price of gold hit the historical high level nearing $5,600 threshold.

Price of silver per ounce also fell by 5.44% to $71.