Gold and Silver Prices Soar After Fed Rate Hike

The Federal Reserve's decision to raise interest rates for the first time in over three years has had a mixed impact on gold and silver prices. The precious metals surged late in U.S. trading, with spot gold rising 1.83% to around $4,341.20 an ounce, while silver jumped 3.59% to $65.12.

The Fed's rate hike was expected to put downward pressure on gold, but the metal benefited from a softer U.S. dollar and lower crude oil prices. Treasury yields also declined, which helped precious metals and equities recover from earlier losses.

However, the market remains cautious, with gold needing to break above $4,354 to confirm a sustained rally. Geopolitical risks continue to influence oil and inflation expectations, keeping investors on edge.