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Fed rate hike lifts gold and weakens dollar
Following the U.S. Federal Reserve's decision to keep interest rates unchanged, gold prices surged immediately by over 1%, reaching approximately $4,076 per ounce. This reflects a decline in the dollar and falling Treasury bond yields. The decision came after the majority of Federal Reserve members voted to hold rates steady, with markets awaiting the response to the upcoming press conference. As a result, the dollar fell against the euro by 0.3%, reaching $1.1419, amid expectations that direct risks to gold have ended.
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