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Gold set for biggest weekly fall since November on Fed's hawkish stance

Spot gold was unchanged at $1,797.71 per ounce by 0532 GMT. U.S. gold futures was up 0.2% at $1,798.80. The metal fell about 2% for the week, its worst fall since Nov. 26

Photo: Andrey Rudakov/Bloomberg
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Photo: Andrey Rudakov/Bloomberg

Reuters
Gold was flat on Friday and set for its sharpest weekly decline since November, as markets digested the U.S. Federal Reserve's policy tightening policy plan that led to a surge in dollar and Treasury yields.

Spot gold was unchanged at $1,797.71 per ounce by 0532 GMT. U.S. gold futures was up 0.2% at $1,798.80.
The metal fell about 2% for the week, its worst fall since Nov. 26.
 
"Now the expectation is of five rate hikes. In a sense, market expectations of monetary policy have turned increasingly hawkish, which is negative for gold because we've seen a lot of strength in

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First Published: Jan 28 2022 | 12:26 PM IST

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