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Gold steady as Fed officials adopt dovish policy tone
![IndiaTimes]()
Wednesday, 11 October 2023
Gold prices held steady near a one-week high as the dollar weakened following comments from U.S. Federal Reserve officials suggesting that further interest rate hikes may not be necessary due to the recent surge in Treasury yields. The dollar's decline, along with geopolitical tensions, has supported safe-haven demand for gold. The market is awaiting U.S. inflation data and the Fed's September meeting minutes for further rate cues. Spot silver, platinum, and palladium also saw modest gains.
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Wednesday, 11 October 2023
