Gold Prices Rebound Above $4,340 as Oil and Yields Ease

Gold and silver prices rose sharply Thursday after the Fed lifted rates by 25 basis points to 3.75-4.00%. Spot gold reached $4,341.20 an ounce, up 1.83%, while silver hit $65.12, gaining 3.59%. A softer dollar, lower oil and the 10-year Treasury yield falling to 4.93% aided the rebound.

U.S. and European equities closed higher, with the S&P 500 advancing 1.1% to 7,637.76. WTI crude settled at $101.91 per barrel and Brent at $104.82, easing inflation concerns. Gold eyes resistance at $4,354 and silver at $65.73.

The Fed’s hawkish outlook still caps upside potential. Geopolitical risks around the Strait of Hormuz keep a floor under oil and bullion prices.