(Kitco News) Gold shed nearly $100 in just 24 hours this week, with the precious metal dropping 5% on Thursday. The trigger was the Federal Reserve’s interest rate announcement.
A surprisingly hawkish stance led to some chaotic trading and gold dropped below the $1,800 an ounce.
Here is a look at Kitco’s top three stories of the week:
3. Federal Reserve signals it could raise rates twice in 2023
2. Why is gold down $100 after Fed shakes up markets?
1. ‘Big Short’ investor Michael Burry warns of ‘greatest speculative bubble of all time’