Gold off one week low

Published on Nov 18, 2022 11:40

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 bank`s 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.