Gold prices fall 1% as dollar jumps on hawkish Fed.
Gold prices fell 1% on Thursday, as the dollar rose sharply after the U.S. Federal Reserve increased interest rates by another 75 basis points and flagged more hikes.
FUNDAMENTALS
Spot gold dropped 1% to $1,656.97 per ounce, as of 0114 GMT. U.S. gold futures fell 0.5% to $1,667.30.
The dollar index scaled a new two-decade peak versus major peers, making bullion more expensive for buyers holding other currencies.
