Gold prices end higher then seesaw after the Fed lifts interest rates

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Gold prices settled higher on Wednesday, then seesawed — moving higher, then lower in electronic trading after the Federal Reserve announced the biggest interest-rate hike in nearly 30 years. Fed officials lifted the fed funds rate by 75 basis points to the 1.5% to 1.75% range. August gold GCQ22, +0.69% was last at $1,818.50 an ounce in electronic trading shortly after the announcement. That follows a settlement of $1,819.60, up $6.10, or 0.3%, for Wednesday’s session.

This article was originally published by Marketwatch.com. Read the original article here.

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