Gold prices fell toward $1,760 an ounce on Monday, easing slightly from near three-month highs as the dollar and Treasury yields rose after Federal Reserve Governor Christopher Waller warned investors getting carried away over one inflation report, and said that the central bank “still got a ways to go” with interest rate hikes. Waller acknowledged that the Fed may slow the pace of rate increases in the upcoming meetings, but emphasized that markets should focus on the terminal rate which is likely still “a ways off” rather than the pace of each move. Meanwhile, gold rallied more than 5% last week as softer-than-expected US inflation data raised hopes that the Fed would slow the pace of rate hikes in the upcoming meetings. Investors are betting that the Fed would moderate the size of their rate hikes to 50 basis points from December after delivering four straight 75 basis point increases.
Weekly Market Analysis / 14 November - 18 November 2022
