Gold gains over 1 percent amid dollar surge
Gold rose by more than 1% today, Thursday, while the dollar remained at its highest level in seven weeks, following the U.S. Federal Reserve's decision to raise interest rates and signals of further monetary tightening. This led to a decline in oil prices. Spot gold increased by 1.1% to $1,310.49 per ounce as investors absorbed the implications of the rate hike decision, while higher U.S. Treasury yields strengthened the dollar, pushing the euro to around $1.1456 and the British pound to $1.3377. In the energy market, oil prices declined after reports of additional shipments from Saudi Arabia via Oman, calming fears of supply disruptions.
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