Gold posts first weekly loss in more than a month
November 14, 2023
Source: MarketWatch
Gold posts first weekly loss in more than a month
Gold futures fell on Friday, as hawkish comments from Federal Reserve Chairman Jerome Powell on Thursday and weaker investor appetite for the haven metal prompted prices to post their first weekly decline since early October.
“The tailwind in gold has gone silent,” said Adam Koos, president at Libertas Wealth Management Group. The yellow metal was formerly supported, in part, by the thought that the U.S. would be hitting a ceiling on interest rates and dissipating inflation, but “none of that seems to matter under the shadow...
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