Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    CGTN: How China keeps its promise to build a community of common health for mankind

    March 25, 2023

    The third largest fish producer in the world, India accounts for 8 percent of global production

    March 25, 2023

    First A380 service to Bali to be launched by Emirates

    March 24, 2023
    Facebook Twitter Instagram
    Lusail MediaLusail Media
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    Lusail MediaLusail Media
    Home » Gold prices plummeted globally following the US interest rate hike
    Business

    Gold prices plummeted globally following the US interest rate hike

    June 16, 2022
    Facebook Twitter Pinterest LinkedIn Tumblr Email

    The price of gold inched lower on Thursday as the dollar recovered in the wake of the US Federal Reserve’s approval, in line with many analysts’ expectations, of a 75-basis-point interest rate increase – its largest in over two decades – to stem a surge in inflation, and signal a slowing economy.

    Gold prices plummeted globally following the US interest rate hikeAs of 10:30 UAE time, spot gold prices fell by 0.17% to US$1830.93 per ounce, while gold futures rose by 0.72% to $1832.75 per ounce. Federal Reserve officials raised interest rates by three-fourths of a percentage point, the biggest increase since 1994, which will raise the Fed’s benchmark federal-funds rate to a range between 1.5% and 1.75%.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    The third largest fish producer in the world, India accounts for 8 percent of global production

    March 25, 2023

    Lack of cash causes Pakistani food shortages, unemployment

    February 14, 2023

    $150 million EIB investment to create 8,000 technology jobs in ME

    February 14, 2023
    Latest News

    CGTN: How China keeps its promise to build a community of common health for mankind

    PR Newswire March 25, 2023

    BEIJING, March 25, 2023 /PRNewswire/ — Recognizing China for its support during the pandemic, the…

    The third largest fish producer in the world, India accounts for 8 percent of global production

    March 25, 2023

    First A380 service to Bali to be launched by Emirates

    March 24, 2023

    An oasis of tranquility for the diverse Abu Dhabi community – Abrahamic Family House

    March 24, 2023

    CGTN: How China continues optimizing its COVID-19 response amid other outbreaks

    March 24, 2023

    For two consecutive years, RSQUARE has been selected by both FT and Statista as an ‘Asia Pacific High Growth Company’.

    March 23, 2023

    i2i Systems Successfully Meets Strict SLAs of Major Telecom Customer with Volt Active Data

    March 23, 2023
    © 2023 Lusail Media | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.