The gold price initially held up fairly well after this week’s rate hike from the US Federal Reserve. But the yellow metal tumbled to US$1,940 per ounce at the end of the period. The yellow metal remained near lows not seen in over two years ahead of the event. The Fed hiked interest rates by 75 basis points this week, putting the target federal funds rate at 3 to 3.25 percent. The already strong US dollar rallied to a 20 year high after the announcement, while 10 year Treasury yields reportedly rose to their highest since point since April 2010. After sidestepping recession questions in July, Jerome Powell now seems more willing to talk about it — this week he said no one knows whether the Fed’s process will cause a recession . . .