Gold Steady as Investors Weigh Policy Outlook Against Omicron
- Fed officials float as many as five rate hikes in 2022
- ‘Tough’ next few weeks on virus wave: U.S. surgeon general
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Gold steadied after its best week in two months as traders weigh the outlook for monetary policy against the threat posed by a fresh coronavirus wave in the U.S.
Facing pressure from Congress and the public to tackle the hottest inflation since the 1980s, a chorus of Federal Reserve officials this month floated raising rates in March and the potential need to hike as many as five times this year, marking a clear shift in projections from just a few weeks ago.