Abu Dhabi, June 16, 2022 (WAM)-Gold prices fell Thursday as the dollar recovered slightly after the US Federal Reserve approved a 75 basis point rate hike on Wednesday. In the first century, it stopped the surge in inflation and flagged a slowdown in the economy.

At 10:30 in the United Arab Emirates, spot gold prices fell 0.17% to $ 1830.93 per ounce and gold futures rose 0.72% to $ 1832.75 per ounce.

The Federal Reserve Board raised interest rates by three-quarters percentage points on Wednesday. This is the largest increase since 1994, raising the Fed’s benchmark federal funds rate from 1.5% to 1.75%.

WAM / Rola Alghoul / Esraa Ismail

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