Gold slipped to its latest one-month low, putting it on track for a third consecutive weekly decline following expectations the Federal Reserve (Fed) will tighten its monetary policy faster.
In the Asian session, spot gold traded slightly higher at $ 1,771 per ounce, after plunging to a low of around $ 1,761 per ounce during the New York session.
Meanwhile, US 10 -year bond yields eased slightly, after rising in the previous session to push gold lower.
The statements of several Fed policymakers in previous sessions have further strengthened Chairman Jerome Powell’s view that the central bank is ready to tighten policy sooner than expected.
Atlanta Fed President Raphael Bostic said it was appropriate to end the bond -buying program by March 2022 to open up opportunities for the central bank to raise rates to tackle inflation.
Meanwhile, San Francisco Fed President Mary Daly said it may be time to start drafting a rate hike plan to fight inflation.
On the other hand, investors are now focusing on US NFP employment data which is expected to record a stronger reading in November than before.
