Gold Rebounds from Rate Hike Lows Amid Ongoing Economic Concerns

Gold prices rebounded after the US Federal Reserve's interest rate increase, despite initial declines. The Fed raised its benchmark rate by 0.25 percentage points to combat high inflation.

The price of spot gold traded at $4,288 an ounce on Thursday morning in Asia, after falling as much as 2.7% to $4,234 earlier that day.

Analysts and investment banks maintain a positive long-term outlook for the metal, citing structural challenges facing the US economy.