We all know that the Fed's decisions have a huge -- huge -- impact on gold prices. It's considered a gimmie.
Today, the Fed essentially announced that, well, nothing is changing in their policy. Interest rates, QE hints -- it's all exactly what it was yesterday, which means nothing new.
Gold dipped slightly on the news, presumably because some investors were expecting QE to some extent.
What comes next? Good question. I honestly think there's a chance that this year the Fed will start increasing interest rates during a partial recovery, which would have a huge impact on gold rates.