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Gold and dollar climb on Fed rate hike
Following the Federal Reserve's decision to raise interest rates by a quarter of a percentage point to a range of 3.75-4%, the dollar appreciated against the euro, which fell by 0.2% to reach 1.15173 dollars. The Federal Reserve also hinted at future interest rate hikes in the coming months to combat inflation, which the U.S. government has yet to successfully control. The price of gold in spot transactions surged by 0.9%, reaching $4,330.19 per ounce, after previously climbing to $4,365.57.
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