Gold prices fell on Friday amid investor evaluation of the Fed officials’ statements about the time of cutting interest rates.
Gold futures contracts for December delivery declined 0.15%, or $2.6, to settle at $1,984.7 per ounce, but recorded a weekly gain of 2.45%.
The main dollar index, which measures the performance of the US currency against a basket of six currencies, fell 0.35% to 103.96 points at 9:21 Makkah time.
“We’re likely at or near the peak of where we need to be in terms of having a sufficiently restrictive stance of monetary policy that will sustainably bring inflation down to 2%,” said Federal Reserve Vice Chair for Supervision Michael Barr.
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