Cointime

Download App
iOS & Android

Gold hits new record high after Federal Reserve interest rate hike, Bitcoin also rises

Gold prices reached a new record high of $2,080.72 an ounce after the Federal Reserve raised interest rates. However, market commentators are criticizing the Fed's decision to continue hiking interest rates and predict a future stall. Bitcoin also saw a slight rally, trading above $26,000 after the Fed's decision to raise interest rates to the highest point in 16 years but signal a pause for future hikes. Financial analysts believe that a pause in rate hikes is here to stay due to worsening economic situations and bank stresses. Critics of the Fed's approach to handling inflation point to the collapse of regional banks and say that decisions are now based on politics rather than rational decisions.

Comments

All Comments

Recommended for you