Gold prices stabilized on Wednesday as the dollar weakened after the US Federal Reserve raised interest rates by a quarter of a percentage point in a widely expected move.<\/p>\n\n\n\n
And the price of gold in spot transactions rose 0.1 percent to $ 1920.45 an ounce (an ounce) at 1920 GMT, after it fell during the session by as much as 1.2 percent to $ 1894.70, in light of the jump recorded by the US Treasury bond yields following the central bank\u2019s announcement.<\/p>\n\n\n\n
And US gold futures fell 1.1 percent to settle at $1,908.40.<\/p>\n\n\n\n
Gold is very sensitive to rising interest rates, as this increases the cost of holding bullion that does not yield a return, while supporting the dollar-priced in it.<\/p>\n\n\n\n
However, the dollar index fell 0.5% against a basket of currencies, making gold less expensive for holders of other currencies, while the benchmark 10-year Treasury bonds also fell from recent highs.<\/p>\n\n\n\n
In terms of other metals, the price of silver in spot transactions rose 0.3 percent to $ 24.94 an ounce, and platinum jumped 3.3 percent to $ 1018.65.<\/p>\n\n\n\n
As for palladium, it fell 0.2 percent to $ 2418.56 an ounce, amid ebbing concerns about supply.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices stabilized on Wednesday as the dollar weakened after the US Federal Reserve raised interest rates by a quarter of a percentage point in a widely expected move. And the price of gold in spot transactions rose 0.1 percent to $ 1920.45 an ounce (an ounce) at 1920 GMT, after it fell during the …<\/p>\n","protected":false},"author":9,"featured_media":57580,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[7903,6885,6868,6874,7447,7603,8444,8970,9325,6984,8324,7343],"class_list":["post-62156","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-economic-growth","tag-fed","tag-fomc","tag-gold","tag-gold-futures","tag-gold-prices","tag-hawkish-language","tag-interest-rate-decision","tag-seven-rate-hikes-announcement","tag-treasury-yields","tag-us-dollar-index","tag-xau-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/62156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=62156"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/62156\/revisions"}],"predecessor-version":[{"id":62157,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/62156\/revisions\/62157"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/57580"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=62156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=62156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=62156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}