Gold prices climb over 1% after US rate hike, policy tightening signals
Global gold prices rose more than 1% after the US Federal Reserve raised interest rates and hinted at further monetary tightening.
Key Takeaways
AIGold prices rose by more than 1% on Wednesday in global markets, following the US Federal Reserve’s decision to raise interest rates and signals of further monetary tightening, while the recent rally in oil prices paused.
Spot gold gained 1.1% to reach $4,310.49 per ounce, after hitting its lowest level in nearly six weeks on Wednesday. Meanwhile, US gold futures for December delivery fell by about 1% to $4,348.70.
Among other precious metals, spot silver rose 1.4% to $63.83 per ounce. Platinum increased 1.6% to $1,780.55, while palladium jumped 2% to $1,295.