Gold: Edging Higher as USD Falls, Traders Eye Powell Speech

Gold: Edging Higher as USD Falls, Traders Eye Powell Speech

From dailyfx.com

Gold prices erased early losses and traded modestly higher during Thursday’s APAC midday session after falling 0.41% a day ago. Selling pressure on the precious metal alleviated as the DXY US Dollar index eased gains and the 10-year Treasury yield fell despite improved risk appetite. Last night’s FOMC meeting minutes underscored the Fed’s dovish stance in the wake of transitory inflation pressure. The central bank committed to maintain the current accommodative policy until the economy shows “substantial further progress” towards its full employment and inflation targets before considering tapering. The Fed ... (full story)

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