Fed Rate Hike Triggers Drop In Gold Prices

(MENAFN- Investor Brand Network) Following a recent meeting conducted by the U.S. Federal Open Market Committee, gold prices came under renewed selling pressure after interest rates rose by 25 basis points. The decision lifted the Federal Funds Target Range to 3.75%–4% and provided fresh support to the dollar, which weighed on the precious metal.

For firms like Collective Mining Ltd. (NYSE American: CNL) (TSX: CNL) in the gold extraction ecosystem, the ongoing market dynamics could also...

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