Homevideos Newsmarket Newscommodities News

Gold prices gain over 1.5% after Federal Reserve hikes interest rates to tackle inflation

videos | IST

Gold prices gain over 1.5% after Federal Reserve hikes interest rates to tackle inflation

Mini

Gold prices gained by 1.5 percent, silver by 2.5 percent and the industrial metals also gained 1-2 percent overnight and Asia saw follow-through buying coming from these metal prices.

The US Fed raised rates by an expected 50 basis points and as the equities have reacted, so have the commodities on the higher side.
Gold prices gained by 1.5 percent, silver by 2.5 percent and the industrial metals also gained 1-2 percent overnight and Asia saw follow-through buying coming from these metal prices.
Similar is the case with the crude oil prices, it saw 5 percent per piece of gain overnight.
In addition to what the US Fed has done, the European Union also said that it will phase out Russian oil within the next six months and that seems to be supporting crude oil prices.
Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.
next story

Market Movers

Currency

CompanyPriceChng%Chng