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Gold and dollar gain on Fed rate hike
After the Federal Reserve's decision to raise interest rates to a range of 3.75% to 4%, the dollar strengthened against the euro, which declined by 0.2% to reach 1.15173 dollars. Gold prices also rose in spot transactions by 0.9%, reaching $4,330.19 per ounce, after previously climbing to $4,365.57. The Federal Reserve indicated the possibility of further interest rate increases in the coming months to combat inflation, especially after former President Trump's administration struggled to control the current inflation.
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