Gold near two week low as slide under $2000 per ounce extends

Published on Nov 07, 2023 12:58

COMEX Gold futures slipped for a second session as worries over US interest rates and soaring risk appetite weighed on the metal. Minneapolis Federal Reserve Bank President Neel Kashkari said he would err on the side of over tightening monetary policy rather than not doing enough to bring inflation down to the central bank`s 2% target, effectively meaning that the Fed may be still holding borrowing costs near a two decade high even as the labor market growth turns tepid. COMEX Gold futures are quoting at $1976 per ounce, down 0.62% on the day. The metal is currently are lingering at two week low, as a slide from five month high of $2020 per ounce.