Business
Gold prices drop over one percent following US interest rate hike
Reported by Aakash Bora (Staff Writer) · Economic Times - Markets ·
✓ — also reported by Livemint - Markets
Representative image · Wikimedia CommonsGold prices fell by more than one percent after the US Federal Reserve raised interest rates and signaled more hikes ahead. This move pushed the dollar higher and pulled down non-yielding bullion. Spot gold dropped to $4,240.10 an ounce after hitting a session high of $4,365.57 earlier. Other precious metals also declined along with gold, including silver, platinum, and palladium.
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