Commodities
Gold Prices React to US Fed Rate Hike
Gold prices continued to fluctuate on Thursday as investors reacted to the US Federal Reserve's decision to raise interest rates by 25 basis points.
The Fed's move sent shockwaves through global markets, causing the dollar index to rise to around 100.3 and two-year Treasury yields to increase to about 4.72%.
However, gold prices received some support from easing crude oil prices and ongoing geopolitical uncertainty.
In the Indian retail market, 24-carat gold was quoted at ₹153,600 per 10 grams, while 22-carat gold stood at ₹140,800 per 10 grams. Silver of 999 purity was priced at about ₹235,140 per kg.