Gold futures settled lower on Friday as the dollar rebounded from lower levels after Fed Chair Jerome Powell said at the Jackson Hole symposium that the central bank's efforts to combat inflation will cause "some pain."
Powell reiterated the Fed's resolve to bring inflation back to its 2% target, declaring that the "economy does not work for anyone" without price stability. He added that the central bank would use its tools "forcefully" to bring demand and supply into better balance.
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