Gold falls 1% after Fed holds rates steady, signals rate hike this year

Gold prices fell significantly on Wednesday. The U. S. S.

Federal Reserve kept interest rates unchanged but indicated a possible increase later this year. This move strengthened the U.

dollar, making gold more expensive for international buyers. Markets now anticipate a higher chance of a rate hike in December.

Other precious metals like silver, platinum, and palladium also experienced declines.