Gold futures settled lower on Friday as the dollar stayed fairly steady amid concerns over higher interest rates and rising geopolitical tensions in Ukraine.
The promise of an aggressive Fed rate rise campaign to combat persistently high inflation also boosted demand for the dollar.
However, the dollar's retreat from higher levels helped limit gold's losses. The dollar index, which advanced to 97.44 in the European session, dropped to 97.06 around noon before recovering some lost ground. It was last seen at 97.22, down marginallly from the previous close.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.