CAPITAL MARKETS

Gold slumps after rate rise

GOLD dropped and the US dollar rallied after the US Federal Open Market Committee lifted interest rates.

Kristie Batten
Gold slumps after rate rise

Comex gold futures fell by 1.1% to $US1145.80 an ounce, a new 11-month low. The price fell as low as $1140/oz. The rate rise was widely expected and many thought it had been priced in already, but...

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