December 1, 2022

Gold slides 1% as greenback marches forward

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Gold costs retreated 1% on Thursday because the greenback bounced, whereas latest feedback from U.S. Federal Reserve officers signaled persevering with coverage tightening to tame inflation.

Spot gold fell 0.9% to $1,758.45 per ounce by 10:42 a.m. ET (1542 GMT), after falling to $1,753.6 earlier within the session. U.S. gold futures for December supply fell 0.8% to $1,760.90 per ounce.

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With Fed officers expressing the necessity for an additional decelerate in U.S. inflation, the…

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