Commodities gain after US Fed hikes rates

Markets read the Fed's announcement as dovish, as now only two rate hikes are expected this year

Commodity prices, led by gold, advanced in the international market and in India, following a quarter per cent increase in rates by the US Federal Reserve on Wednesday. 

Markets read the Federal Reserve’s announcement as dovish, as now only two rate hikes are expected this year. 

Pro-Europe parties’ victory in the Netherlands election, which weakened Euro, also helped the price surge. Dutch voters turned out in large numbers to back the Liberal Party, easing concerns about the rise of populism in the region. 

Immediately after the rate hike on Wednesday, gold went up over two per cent, and on Thursday,