India, Nov. 12 -- Gold prices were sharply lower on Thursday as the U.S. dollar index climbed to a 19-month high on expectations of further tightening by the Federal Reserve.
Hawkish comments from several Federal Reserve officials fueled expectations for a 50-bps rate hike next month.
According to the CME FedWatch Tool, markets are fully pricing in a 25-bps rate hike next month, with the probability of a larger 50-basis-point move currently standing at 11 percent.
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