laury
2017-06-19, 08:14 PM
Comex gold futures were at $1,251.20 a troy ounce by 9:05AM ET (1305GMT), down $5.30, or around 0.4%. Prices fell to $1,249.80 earlier in the session, a level not seen since May 24.
Gold prices lost $13.20, or roughly 1.2%, last week, the second weekly decline in a row, after the Fed raised interest rates and kept the door open for another hike in 2017.
Also on the Comex, silver futures were down 7.5 cents, or around 0.5%, to $16.59 a troy ounce, after hitting its lowest since May 19 at $16.56.
In a business roundtable held in Plattsburg, New York, Dudley said U.S. inflation is a bit low but should rise alongside wages as the labor market continues to improve, allowing the Fed to continue ****ually tightening U.S. monetary policy.
Gold prices lost $13.20, or roughly 1.2%, last week, the second weekly decline in a row, after the Fed raised interest rates and kept the door open for another hike in 2017.
Also on the Comex, silver futures were down 7.5 cents, or around 0.5%, to $16.59 a troy ounce, after hitting its lowest since May 19 at $16.56.
In a business roundtable held in Plattsburg, New York, Dudley said U.S. inflation is a bit low but should rise alongside wages as the labor market continues to improve, allowing the Fed to continue ****ually tightening U.S. monetary policy.