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Investing.com — Gold prices ended the week little changed, rebounding from a one-week low, as markets continued their debate on whether the Federal Reserve’s final rate hike for the year would be in November or December.
Gold prices took a tumble on Thursday, following Wednesday's Federal Reserve policy meeting. The central bank's decision to hold its benchmark interest rate steady and indications that these rates will remain high throughout next year led to a sharp rise in the U.S. dollar value.
Gold prices experienced a dip on Thursday, influenced by the U.S. Federal Reserve's hardened hawkish policy stance. This led to a stronger U.S. dollar and higher bond yields, which further discouraged the buying of non-interest-paying bullion. Spot gold slid by 0.3% to $1,924.68 per ounce, and U.S. gold futures fell by 1.1% to $1,944.90.