Dollar Falls on Dovish Fed Comments - TradingView

AI desk brief

December COMEX gold fell $13.30/oz (-0.32%) and silver lost $0.988/oz (-1.63%) after hawkish Fed comments triggered long liquidation, even though the dollar index slipped 0.40% and bond yields eased earlier in the session. Waller and Williams signaled the Fed may be near the end of its hiking cycle, but Goolsbee’s inflation remarks and ongoing market pricing for a 22% chance of another hike later this month kept pressure on metals.

Underlying support remains constructive: gold ETF long holdings hit a 4-year high last Thursday and silver ETF longs reached a 6.5-month high on Sept. 22. Chinese PBOC gold reserves also rose by 740,000 oz to 77.47 million oz in September, the 23rd straight monthly increase, reinforcing central-bank demand support.