Gold makes lifetime high, silver up 1% after U.S. Fed hikes interest rate

Updated: 04 May 2023, 03:48 PM IST
Livemint

Within an hour of the commodity market’s opening b… moreWithin an hour of the commodity market’s opening bell today, the gold rate reached a new lifetime high of 61,490 per 10 gm. Gold rate today started off higher in early morning dealings on Multi Commodity Exchange (MCX).After the US Fed announced a 25 basis point rate increase on Wednesday, the price of gold has been increasing. The gold price increased to a record high of $2081.80 per ounce in the international spot market on Wednesday following the US Fed meeting’s decision, which was in line with expectations of market experts.