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Gold Down, as the Dollar Strengthens over the Fed’s Tightened Policies
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Gold futures were down 0.02% to $1,824.17 by 11:07 PM ET (3:07 AM GMT). Bullion is set for a 3.2% weekly drop, its biggest in two months.
Fed Chair Jerome Powell called stable prices the “bedrock” of the economy, saying on Thursday that the central bank’s battle to cool inflation would “include some pain” as the impact of higher interest rates is felt. But he said the worse outcome would be the prices to continue speeding ahead.
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