Gold drops over 2% after US rate hold

After the U.S. interest rates were held steady at 3.5% for the fourth consecutive time, the price of gold dropped by more than 2%, reaching $4,244 per ounce. Markets reacted accordingly, with expectations that monetary policy will remain unchanged for the time being. The decision came amid strong labor market data and geopolitical events, while U.S. bond yields and the dollar rose. Financial markets showed mixed performance following the announcement.

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