Fed Hike Jolts Gold Before Oil Retreat Fuels a Sharp Rebound The latest Federal Reserve rate hike sent shockwaves through global markets, causing gold's price to plummet.
However, as oil prices retreated, gold staged a sharp rebound, leaving investors and analysts wondering about the market's volatility.
Gold's initial drop was not solely due to the rate hike itself but rather the increased anticipation of future hikes.