Gold Falls 0.68% to $4,263 as Fed Hikes Rates

The intraday reversal matters more than the headline decline: gold spiked to a session high on the announcement, then gave back those gains and more during the press conference, suggesting the dot plot and Chair's remarks carried more weight than the rate decision itself. The move is a reminder that gold's reaction function runs through real-rate expectations and the projected path, not the hike alone. Silver's larger percentage drop points to the same macro driver hitting higher-beta precious metals harder. Whether the dot plot's guidance holds through the next data prints is the open question.