Gold Increased by 11 Lira After FED Interest Rate Decision

The US Federal Reserve raised interest rates by 75 basis points. After this decision, there was also a change in gold prices.

Gram gold, which was at the level of 985 liras before the decision, rose 11 liras with the interest rate decision and reached 996 liras. Gold rose sharply after the US Federal Reserve's (Fed) interest rate decision. With the Fed raising the interest rate to 3.75 percent to 4 percent with a 75 basis point increase, gram gold increased by 11 lira.

Dollar remained unresponsive

While gold recorded a sharp rise, the dollar did not show the same reaction. The exchange rate, which was at 18.62 before the decision, declined to 18.61 with the decision.

Fed Raised the Interest Rate Over the Last 15 Years With Its Last Decision

With its latest move, the Fed raised its policy rate to the highest levels since December 2007. The Fed signaled in its decision text that it will continue to raise interest rates, but noted that these increases will be at a smaller pace. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!