Gold rose significantly in November on dovish Fed sentiment

Gold prices fell slightly on Wednesday ahead of the Federal Reserve Chairman Jerome Powell's message. However, they recovered on the hints that the Federal Reserve could soon slow its future increases. 

On Wednesday, November 30, Jerome Powell will speak in Washington. Investors are closely watching the data on the outlook for the economy and the Fed's steps. Market participants also hold breath for the U.S.employment data that is going to be released on Friday. 

According to minutes from the November meeting, more Fed officials seek to slow the pace of interest-rate hikes. Despite this fact, Fed speakers said that interest rates would likely stay high until 2024 to control inflation. 

Hopes of a Federal Reserve pivot fade in December had a positive impact on such assets as gold.

The outlook on gold is subdued, even with inflation exceeding the Fed's target.