Gold emboldened by US rate hike

THE US Federal Reserve has lifted US interest rates by 75 basis points, in line with expectation, the second consecutive rise of that figure.
Gold emboldened by US rate hike Gold emboldened by US rate hike Gold emboldened by US rate hike Gold emboldened by US rate hike Gold emboldened by US rate hike

Federal Reserve chairman Jerome Powell

Staff Reporter

Markets reacted to comments the Federal Reserve chairman Jerome Powell made when evaluating the news.
 
"I do not think the US is currently in a recession," Bloomberg quoted him as saying.
 
He also said the pace of interest rate rises would slow at some point.
 
Spot gold rose to $1740 an ounce following the announcement.
 
At midweek, copper rose for a fourth straight day, adding 1.4% to $7627.25 per tonne.
 
It was the highest closing price for copper in more than two weeks.

 

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