CHICAGO, Nov. 17 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell in correction on Friday after sharp rally in the previous trading day.
The most active gold contract for December delivery fell 2.60 U.S. dollars, or 0.13 percent, to close at 1,984.70 dollars per ounce.
Speaking to the 33rd Frankfurt European Banking Congress in Frankfurt, Germany, San Francisco Federal Reserve President Mary Daly said Friday that the uncertainty remains high and the Fed will need to practice gradualism.
"We are in a period where the risks seem high and the waters, murky," Daly said.
Boston Federal Reserve President Susan Collins said Friday in a CNBC interview that more interest rate hikes could yet be needed to bring down inflation.
"I understand the tendency to really enjoy good news, and there was some good news in some of the numbers... But I don't see additional firming off the table," she said.
Given the latest Fed official comments, market analysts feel certain the Federal Reserve will hold interest rates steady at its December meeting.
The U.S. Commerce Department reported Friday that U.S. housing starts rose 1.9 percent to a rate of 1.372 million units in October. Building permits, a sign of future construction, rose 1.1 percent to 1.49 million in October.
Silver for December delivery fell 8.10 cents, or 0.34 percent, to close at 23.852 dollars per ounce. Platinum for January delivery fell 1.10 dollars, or 0.12 percent, to close at 901.70 dollars per ounce.
