The Fed's Decision Shook the Market! Gold Prices Suddenly Reversed Course.
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The US Federal Reserve's (Fed) decision to raise its policy interest rate by 25 basis points has stirred the markets. Gold, which was rising before the decision, experienced a sharp decline following comments from Fed Chairman Kevin Warsh.
Following the Fed's 25 basis point interest rate hike, the gold market reversed course. After rising before the decision, the price of gold per ounce fell by over 2% to $4,243, while the price of gold per gram dropped to 6,642 TL.
(Dan Tri Newspaper) - Following the US Federal Reserve's (Fed) decision to raise interest rates, the US dollar immediately surged, causing the price of precious metals to plummet after a brief recovery.
The US Federal Reserve (Fed) raised its policy interest rate by 25 basis points to the 3.75-4 percent range. Following the decision, gold prices experienced a sharp decline. The price of an ounce of gold fell from $4,353 to $4,273, while the price of a gram of gold dropped from 6,812 TL to 6,653 TL.
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