Gold continues to stay under pressure in early Asia on Friday but is off from a sharp drop below crucial $1650 mark in the previous session. Gold plummeted after consumer prices in the U.S. increased by more than expected in the month of September, adding fears of more aggressive rate hikes by the Federal Reserve. US treasury yields and dollar eased slightly today following a sharp spike overnight that is likely to limit fall in the bullion. However, the yellow metal is set to close the week lower. COMEX gold futures are currently quoting down 0.17% at $ 1674.05 an ounce. Powered by Commodity Insights
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