GOLD, silver and copper prices have tumbled after the U.S. Federal Reserve said it was raising interest rates by a quarter percentage point to a record 3.25% in its latest interest-rate hike.
Gold is up more than 3% this week and the dollar is up about 1% after a stronger dollar helped the euro weaken.
Silver is up 2.8%.
Meanwhile, the dollar index has weakened to a seven-month low against a basket of major currencies and has been flat or down for most of the past two weeks.
The move has pushed the dollar lower and hurt demand for U.K. exports.
It has helped push U.F.O. sales up, boosting the U-turn that helped lift the British pound after Brexit.
Investors also fear that the Federal Reserve’s move will hurt U.C.V.U.S., which has a strong dollar and a strong economy, and other emerging markets, which also rely heavily on exports.
The Fed’s announcement is one of the biggest changes to its $85 trillion-a-year policy since the recession ended in 2008.
The Fed said Thursday that it will raise rates for the first time since 2009.
The U.N. climate change accord was one of President Donald Trump’s key campaign promises.
He said during the election that he would withdraw from the accord, which would require countries to cut emissions to fight global warming.
The dollar is at its lowest level against the greenback since May 2017, when it was at about 86.60 to the greenmarket rate.
U.N.’s chief, Antonio Guterres, told the Wall Street Journal that the U