Gold falls 1% after Fed holds rates steady, signals rate hike this year

Gold prices fell significantly on Wednesday. The U.S. Federal Reserve kept interest rates unchanged but indicated a possible increase later this year. This move strengthened the U.S. dollar, making gold more expensive for international buyers. Markets now anticipate a higher chance of a rate hike in December. Other precious metals like silver, platinum, and palladium also experienced declines.

from Economic Times https://ift.tt/VqdUA4O