CHICAGO - Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday as the US dollar strengthened. The most active gold contract for December delivery fell 6.10 US dollars, or 0.31 percent, to close at 1,970.00 dollars per ounce. The rise of US Treasury’s bond yields further dampened gold. In remarks prepared for delivery to the Kansas Bankers Association, Federal Reserve Governor Michelle Bowman said Saturday that the Federal Reserve will likely need to raise interest rates further to bring down inflation. Bowman said she supported the Fed’s quarter-point increase in interest rates last month, and expected that “additional rate increases will likely be needed to get inflation on a path down to the Fed’s 2 percent target”. In an interview with The New York Times, New York Federal Reserve President John C Williams said interest rates were high enough to put downward pressure on inflation. From my perspective, monetary policy is in a good place. We’ve got policy where we need to be.