Gold prices fell down after the hike in interest of Federal Reserve rates

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Gold prices fall down after the Federal Reserve increased interest rates by 0.25 percent, its first increase in nine years.

Gold price has dropped nearly to 10 percent this year, largely on uncertainty around the timing of the US rate hike.

The hike in interest rate was announced after two-day policy meeting between officials with stocks rallying in early trading in Europe and the US.

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 The US Central bank also raised its expectation for its economic growth next year, slightly from 2.3 percent to 2.4 percent. US share markets jumped after this decision.

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