Gold prices increased, approaching record levels today, Thursday, after the Federal Reserve (the U.S. central bank) raised interest rates by 25 basis points and hinted that it may refrain from further rate hikes.
By 00:35 GMT, gold in spot transactions rose by 0.8% to $2,055.54 per ounce, while U.S. gold futures increased by 1.3% to $2,063.20 per ounce.
As for other precious metals, silver in spot transactions rose by 0.5% to $25.72 per ounce, platinum increased by 0.7% to $1,056.29 per ounce, and palladium rose by 0.8% to $1,433.75 per ounce.
Earlier in the session, gold prices reached $2,072.19 per ounce, approaching their all-time high of $2,072.49 per ounce achieved in 2020.
The dollar index fell by 0.2%, making gold priced in U.S. currency cheaper for holders of other currencies.
The U.S. central bank raised interest rates by 25 basis points, in line with market expectations. The central bank did not indicate that it "expects" the need for further rate hikes, merely stating that it will monitor upcoming data to determine whether more rate increases "might be appropriate."
