Gold steady after US Fed cranks up interest rates - Business News| Latest News & Reviews On Financial Markets | Themarkettrendz

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Wednesday, 15 June 2022

Gold steady after US Fed cranks up interest rates

Global stocks rallied and government bond yields and the dollar retreated from multi-year highs on Wednesday as investors cheered the Fed's decision to raise interest rates by three-fourths of a percentage point. Higher short-term U.S. interest rates increase the opportunity cost of holding bullion, which yields no interest.

from Commodities-Markets-Economic Times
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