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Gold Whipsawed as Fed’s Williams Flags Support for Rate Increase

  • Prices reflect lack of clarity on next rate hike: Metals Focus
  • Holdings in bullion-backed ETFs slide for a second session
Updated on

The split among Federal Reserve officials on whether to boost U.S. borrowing costs is whipsawing gold again.

Futures gained Thursday, a day after the July Fed minutes were released showing policy makers are divided on rates, only to swing to a loss Friday. Comments from Fed Bank of San Francisco President John Williams after gold futures closed on Thursday revived the bearish sentiment on the precious metal, paring this week’s gains.