Gold falls 4.6%, silver 5% as December Fed rate-hike odds near 90%
AI Market Summary
Gold and silver are ending the week sharply lower as a stronger dollar, higher bond yields and near-90% odds of a December Fed rate hike weigh on precious metals. Friday's modest MCX rebound does little to offset weekly losses of about 4.6% in gold and 5% in silver. The Fed outlook remains the dominant near-term driver.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-1.07%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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MCX gold futures closed 0.39% higher on Friday. For the week, gold lost about 4.6% and silver fell nearly 5%. US producer prices rose 6.5% year on year. Market expectations for a December rate hike stand at nearly 90%.
