Gold slips toward $4,250 after Fed rate hike
Gold (XAU/USD) came under pressure in early Asian trading, falling to around $4,265 after the Federal Reserve raised interest rates and signaled another increase is likely.
XAUUSD
Gold extended its decline on Thursday as sellers pushed XAU/USD to around $4,265 during the early Asian session. The move followed a US Federal Reserve interest-rate increase, with policymakers signaling that another hike is likely.
The precious metal traded near $4,250 as higher US rates weighed on the non-yielding asset. The source did not provide additional details beyond the Fed decision and the market reaction.
Source: FXStreet Forex News