Gold was flat on Thursday after a jump in the previous session on falling Treasury yields and a weaker dollar, which were driven lower by a large but widely expected interest rate hike announcement from the U.S. Federal Reserve.

FUNDAMENTALS

* Spot gold was little changed at $1,832.86 per ounce as of 0034 GMT. U.S. gold futures rose 1% to $1,836.90.

* The Federal Reserve on Wednesday approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation that U.S. central bank officials acknowledged may be eroding public trust in their power, and being driven by events seen increasingly out of their hands.

* Global stocks rallied and government bond yields and the dollar retreated from multi-year highs on Wednesday as investors cheered the Fed's decision to raise interest rates by three-fourths of a percentage point.

* Higher short-term U.S. interest rates increase the opportunity cost of holding bullion, which yields no interest.

* However, benchmark U.S. 10-year Treasury yields weakened after the announcement, helping demand for greenback-priced gold along with a slide in the dollar, and took bullion prices as much as 1.9% higher on the day.

* The Bank of England looks set to override its worries about a sharp slowdown in the British economy and raise interest rates again on Thursday as it tries to tackle an inflation rate on course for double digits.

* Spot silver firmed 0.1% to $21.68 per ounce, platinum gained 0.7% to $945.55, and palladium rose 0.5% to $1,869.24. 

(Reporting by Bharat Govind Gautam in Bengaluru; Editing by Shailesh Kuber)