Gold off one week low

18 Nov 2022 , 11:40 AM

Firm dollar tracking US treasury yields on hawkish comments from the Fed on interest rates weighed on the precious metal. St. Louis Fed President James Bullard showed a graphic suggesting that even dovish assumptions would require the central banks policy rate to rise to at least around 5%, while stricter assumptions suggest it would be above 7%. The dollar index that measures the greenback against a basket of currencies rose to 107.24 overnight and subsequently gave up some gains and is currently seen at 106.44. Gold futures are up 0.14% at $1,765.60 an ounce.Powered by Capital Market – Live News