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Gold futures settle lower on interest rate hike bets

20 Nov 2021 Evaluate
Gold futures settled lower on Friday, weighed down by a stronger dollar amid bets of quicker interest rate hike by US Federal Reserve after the comments from Federal Reserve Governor Christopher Waller. The yellow metal for the most active contract dipped by 0.9% for the week. However, surging inflation limited some losses. 

Gold futures for December dipped by 0.5% or $9.80 to settle at $1851.60 an ounce on the Comex division of the New York Mercantile. Spot gold fell 0.1% to $1,864.40 per ounce.