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MODEL PORTFOLIO 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
Frick collection with palm trees 
Economic Updates
Policy Rate Updates: Closer to BSP’s Goldilocks moment
October 9, 2025 DOWNLOAD
economy-ss-9
Economic Updates
Inflation Update: Speeds up but remains below target
October 7, 2025 DOWNLOAD
A man and a woman in office attire hold pens as they talk about some charts.
Economic Updates
Monthly Economic Update: Fed back on track   
October 3, 2025 DOWNLOAD
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Markets 2 MIN READ

Gold flat; set for small weekly gain on hopes of dovish Fed

November 25, 2022By Reuters
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Nov 24 (Reuters) – Gold prices were flat on Friday, but they were set for a small weekly gain buoyed by the dollar’s overall retreat on a perceived dovish tilt to the US Federal Reserve’s interest rate hike strategy.

FUNDAMENTALS

* Spot gold was little changed at USD 1,753.47 per ounce by 0016 GMT. US gold futures rose 0.5% to USD 1,753.30.

* A “substantial majority” of Fed policymakers agreed it would “likely soon be appropriate” to slow the pace of interest rate hikes, the readout of the Nov. 1-2 meeting showed on Wednesday.

* This put the dollar on course for a weekly decline, making gold cheaper for overseas buyers.

* The Fed’s signaling of a slowdown in the pace of rate hikes takes pressure off global peers to keep on raising rates and offers relief to emerging markets, which have suffered their biggest rout in over a decade this year.

* Lower rates tend to lift appeal for bullion in comparison with other interest-bearing assets.

* Lebanon’s central bank has completed an audit of its gold reserves at the request of the International Monetary Fund that found the amount of gold in its vaults was identical to the amounts mentioned in its balance sheets, a bank statement said.

* Ghana’s government is working on a new policy to buy oil products with gold rather than US dollar reserves, Vice-President Mahamudu Bawumia said on Facebook on Thursday, in a bid to tackle dwindling foreign currency reserves.

* Spot silver eased 0.3% to USD 21.45, platinum fell 0.1% to USD 986.78, while palladium was little changed at USD 1,881.97.

* Market activity was relatively muted by the US Thanksgiving holiday.

DATA/EVENTS (GMT)

0700 Germany GDP Detailed QQ SA, YY NSA Q3

1100 France Unemp Class-A SA Oct

(Reporting by Arpan Varghese in Bengaluru; Editing by Rashmi Aich)

 

This article originally appeared on reuters.com

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