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Commodities

15 Nov 2021

Gold Edges Down but Remains Above $1,800

The Index Today

Gold slipped down after a five-month high on Monday morning in Asia. Gold futures dropped 0.51% to $1,859.05 by 11:01 PM ET. However, it still managed to stay above $1,800 whereas the dollar fell slightly but remained close to its 16-month high.

The Federal Reserve remains steady on elevated inflation and points towards the fact that it is temporary. Janet Yellen, U.S Treasury Secretary has said that inflationary pressures can be managed effectively by controlling covid infection rates across the nation.

In other news, inflation is expected to remain slower in the Eurozone due to increased supply chain bottlenecks. Policymakers have warned that central banks should not rush to cancel economic stimulus programs just yet. According to Reuters poll, opinions remain split as The Bank of England will become the first bank in Europe to introduce interest rate hikes by end of this year or early next year.

Clay pottery with table linens