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Daly on the Fed rate: will likely have to hike - dollar at its highest since April 2025

Mary Daly, head of the Federal Reserve Bank of San Francisco (one of the 12 regional Fed banks), said on Friday, November 13: the US economy is fine, but the key problem is inflation, and there is a "shift toward the view that rates need to rise." The dollar on this climbed to its highest since April 2025, gold lost more than 4% over the week.

After US inflation data, gold fell to $4,065 and returned above $4,150

Gold declined for three consecutive days after higher-than-expected US inflation was released and dropped to $4,065 per ounce. On the morning of October 15, XAU/USD recovered part of the decline and returned above $4,150 amid a pullback in the dollar and bond yields.

Fed minutes pushed gold price down to $4,066 - a two-month low

Gold declined after the publication of the minutes of the September Fed meeting. XAU/USD briefly dropped to $4,066, the lowest level in about two months, amid a stronger dollar and rising US bond yields.