Weekly Changes in Commodity Markets After the Fed Interest Rate Decision
Precious metals closed the week with gains following the central bank's move and the rise in the dollar index.
Active days were left behind in commodity markets as the Fed raised its policy interest rate to the 3.75-4 percent band and bond yields climbed.
Interest Rate Hike and the Dollar Index
The Fed raised its policy interest rate by 25 basis points to the 3.75-4 percent range, and during this process, the dollar index gained 1 percent in value.
Decline in Energy Prices
Fluctuations in global markets and the decline in energy prices were among the factors shaping investors' preferences.
Positive Trend in Precious Metals
With inflation concerns easing, short positions were quickly closed, and this situation supported an upward recovery in precious metals.
Weekly Metal Performance Report
On an ounce basis, silver gained 2.8 percent, gold 0.7 percent, platinum 0.2 percent, and palladium 0.1 percent, completing the week in positive territory.