9/27, 5:45 PM (Source: TeleTrader)
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Gold dips to 6-month low on interest rate woes

The prices of yellow and white metal declined on Wednesday after the Federal Reserve indicated that it could maintain elevated interest rates beyond initial projections, seemingly weakening investors' appetite for safe-haven assets.

The Fed officials hinted that additional tightening might be required to reach the targeted level of inflation, with a strong likelihood of raising interest rates by an additional 25 basis points by the end of the year.

At 11:44 am ET, gold was down by 1.01% to sell at $1,881.46 per ounce, hitting its fresh low since March this year. Silver dipped 1.06% to trade at $22.61 per ounce.

Baha Breaking News (BBN) / AB