Gold Continues to Rise Amidst Fed Rate Hike and Market Volatility

Gold and silver prices rose following the expected interest rate increase from the Federal Reserve. The FOMC statement signaled a likely pause in the rate-hiking cycle, with the U.S. economy continuing to grow modestly. The ECB is also expected to raise its main interest rate by a quarter-point. The marketplace is now looking forward to Friday’s April U.S. jobs report from the Labor Department. Plunging crude oil prices hit a five-week low overnight. The U.S. dollar index is solidly lower, and the benchmark 10-year U.S. Treasury note yield is presently fetching 3.386%.