gold prices tumbled on thursday reversing a modest gain from the prior session after the federal reserve delivered its fourth 75 basis point interest rate hike since the start of the year   gold prices for december delivery gcz22 were down 27 or 16 at 1622 per ounce on comex   silver prices for december siz22 delivery were off 67 cents or 35 at 1892 per ounce   palladium for december paz22 was off 80 or 33 at 1769 per ounce while platinum for january plf23 was down 37 or 4 to 912 per ounce   copper futures coming due in december hgz22 skidded 8 cents or 23 to 339 per pound precious metals traders blamed the fed for the latest bout of weakness in gold and silver prices “gold and silver turned sharply lower yesterday after fed chair powell delivered a hammerblow to sentiment across markets as he managed to both pull off the idea of the fed may indeed soon pivot to a slower pace of rate hikes but that any talk of a pause” said ole hansen head of commodity strategy at saxo bank treasury yields climbed with the 10year yield tmubmusd10y up 148 basis points to 4208 the ice us dollar index dxy  a gauge of the dollar’s strength against a basket of rivals was up 15 at 113