Gold rebounds after Fed rate hike
Gold prices today, Wednesday, reacted to the U.S. Federal Reserve's decision to raise interest rates by 25 basis points for the first time in over three years. Gold futures increased by 0.98%, reaching $4,375.40 per ounce, while spot prices rose by 0.97% to $4,333.94. Despite the rise in interest rates, gold rebounded after its decline in the previous session, as investors continue to monitor expectations for future monetary policy and movements in the dollar and geopolitical markets, with the possibility of further rate hikes before the end of the year. Typically, higher interest rates exert downward pressure on gold, but the metal is also influenced by inflation expectations and the dollar's value, leaving the market attentive to what lies ahead.
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