The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
DOWNLOAD
View all Reports
Metrobank.com.ph Contact Us
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph Contact Us
Access Exclusive Content Login to Wealth Manager
Search
The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
May 8, 2025 DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
May 6, 2025 DOWNLOAD
View all Reports
Markets 2 MIN READ

Gold dips 1% as dollar bounces higher; Fed policy minutes awaited

November 21, 2022By Reuters
Related Articles
Gold falls as stronger US jobs data shrinks hopes of big Fed rate cut October 7, 2024 S&P 500 ends down as hot US inflation data hints at fewer rate cuts February 13, 2025 Gold jumps after US Fed signals rate-hike pause imminent March 22, 2023

Nov 21 (Reuters) – Gold prices slipped to their lowest in over a week on Monday, falling over 1% as the dollar extended gains, while the market’s attention turned to the US Federal Reserve’s November meeting minutes due this holiday-shortened week.

Spot gold fell 0.7% to USD 1,738.40 per ounce by 1:36 p.m. ET (1836 GMT), after earlier hitting its lowest level since Nov. 10 at USD 1,731.40. US gold futures settled down 0.8% to USD 1,739.6.

“Overall, the general macro environment still is higher interest rates, which is a negative for the precious metals as central banks continue to look to increase interest rates,” said Chris Gaffney, president of world markets at TIAA Bank.

The dollar rose 0.9%, weighing on the yellow metal by making it expensive for overseas buyers.

The Fed’s November meeting minutes are due on Wednesday, with most traders betting on a 50-basis point hike in the December meeting, and some seeing 24.2% chance of a 75-bps hike following recent comments by Fed officials.

Higher interest rates sour the appeal of gold, traditionally a hedge against inflation, as they raise the opportunity cost of holding bullion which yields no interest.

“We’re probably going to venture into the low 1700s…those are support levels that we’re likely going to move down to,” said Bart Melek, head of commodity markets strategy at TD Securities.

Beijing’s most populous district urged residents to stay at home on Monday as the city’s COVID-19 case numbers rose.

“China in particular is an active market for precious metals and if they continue to lock down…[it’s] less money to spend in China for investment purposes,” Gaffney said.

Spot silver fell 0.3% to USD 20.85 per ounce and platinum rose 0.8% to USD 985.13.

Auto-catalyst metal palladium fell 4% to USD 1,860.26, earlier dropping to a week-low of USD 1,823.

Negative economic news out of China puts pressure on palladium since its used in catalytic converters for vehicles, Melek highlighted.

(Reporting by Seher Dareen in Bengaluru, editing by Deepa Babington and Krishna Chandra Eluri)

 

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up