Gold rises over 1% as US rate hike decision digested

Gold prices rose by more than 1% on Thursday as investors digested the U.S. interest rate hike decision and hints of further monetary tightening, while the oil price rally stalled.

Spot gold climbed 1.1% to $4,310.49 per ounce, after hitting its lowest level in about six weeks on Wednesday.

In contrast, U.S. gold futures for December delivery fell by about 1% to $4,348.70.

Among other precious metals, spot silver rose 1.4% to $63.83, platinum increased 1.6% to $1,780.55, and palladium jumped 2% to $1,295.