![]() San Francisco Fed Bank President Mary Daly said on Friday in an interview with Reuters that two more rate hikes this year is a "very reasonable" projection. That is pretty bearish on the metals," said Phillip Streible, chief market strategist at Blue Line Futures in Chicago. He favors more interest rate hikes and doesn't see any rate cuts anytime soon. The dollar strengthened after Fed Chair Jerome Powell, in congressional testimony this week, signaled more interest rate hikes ahead but vowed the central bank would proceed with caution. The dollar index rose 0.5% to a one-week peak against its rivals, making gold less attractive for other currency holders. gold futures settled 0.3% higher at $1,929.6. EDT (1819 GMT), after adding as much as 1.2% on a retreat in U.S. June 23 (Reuters) - Gold prices on Friday were heading for their biggest weekly percentage fall in over four months, weighed by a stronger dollar and hawkish comments by Federal Reserve officials. ![]() Palladium languishes near four-year low.Silver, platinum set for worst week in several months. ![]() ![]()
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