Gold futures settle at the lowest in over a week

Gold futures settled lower on Friday, with strength in the U.S. dollar and Treasury yields pulling prices to their lowest settlement in a week, after two senior Federal Reserve officials said higher interest rates are needed to bring inflation down. Gold for December delivery fell $8.60, or 0.5%, to settle at $1,754.40 an ounce on Comex, with most-active contract prices down 0.9% for the week. On Thursday, gold settled at $1,763, the lowest finish for a most-active contract since early Nov. 10, according to FactSet data.

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