The Fed’s rate hikes this year have weighed on bullion, with spot prices down 8.6%.

Gold prices rose after the US Federal Reserve raised interest rates by 75 basis points for a third straight time.

“We’re in a very volatile economic environment at the moment,” Newmont CEO Tom Palmer said in an interview.

The Fed is widely expected to hike rates further by 75 basis points later in the day to tackle high inflation.

In 2021, electric vehicles accounted for less than 5% of sales in the US, below the global rate of nearly 9%.

State was not aggressive as some environmental groups wanted, or Tesla, which urged ending new gas-powered vehicles by 2030.

Copper prices are down more than 20% this year as covid-related shutdowns in China, surging power prices in Europe and ongoing inflation in the U.S. and elsewhere hurt demand.