Gold prices rose, recording the highest settlement price in more than a year, following the decision of the Federal Reserve and a number of central banks.
At the settlement of the March 23rd session, gold futures rose by 2.4%, or $46.3, to $1,995.9 an ounce, which is the highest settlement price for the most active contract since March 10, 2022.
Federal Reserve Chairman Jerome Powell said on Wednesday that the Fed may raise rates further if needed.
He emphasized that inflation remains very high, the labor market continues to recover and unemployment rates are declining.
The Federal Reserve raised the interest rate yesterday by regarding 25 basis points, and the Bank of England took a similar decision today.
US Treasury Secretary Janet Yellen said today that failure to raise the debt ceiling might lead to an economic recession or something worse.
It also stressed its willingness to take additional measures, if necessary, to achieve stability for banks.
