Gold prices rise after Fed rate hike

Gold prices rose on Thursday after the United States Federal Reserve raised interest rates for the third time since the 2008 global financial crisis. Gold exchange rose to 1,224.70 U.S. dollars per ounce, up 24 dollars. The U.S. Fed on Wednesday decided to raise the target range for the federal funds rate by 25 basis points to 0.75-1.0 percent. Its policy-making committee said in a statement released after a two-day meeting.

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