CHICAGO, Nov. 10 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday on Federal Reserve Chair Jerome Powell's hawkish comments.

       The most active gold contract for December delivery fell 32.10 U.S. dollars, or 1.63 percent, to close at 1,937.70 dollars per ounce.

       Powell said at a conference hosted by the International Monetary Fund on Thursday that the central bank "will not hesitate" to raise interest rates further if needed to curb inflation.

       "If it becomes appropriate to tighten policy further, we will not hesitate to do so," Powell said.

       Nevertheless, Federal Reserve Bank of Atlanta President Raphael Bostic said on Friday that policymakers can return U.S. inflation to the 2-percent goal without needing to raise interest rates further.

       "This is going to be something that is going to take some time," he said at a Chamber of Commerce event in Mobile, Alabama.

       The preliminary reading of the University of Michigan consumer sentiment index dropped to 60.4 percent in November from October's final reading of 63.8, the lowest since May.

       StarPicks

       Showcase of timeless elegance

       Silver for December delivery fell 62.40 cents, or 2.72 percent, to close at 22.281 dollars per ounce. Platinum for January delivery fell 17.20 dollars, or 1.99 percent, to close at 845.60 dollars per ounce.