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Gold prices ease off 2-month peak on firm dollar, Powell's comments

From reuters.com

Gold prices edged lower on Tuesday, after hitting a more than two-month high in the previous session, as a stronger dollar and optimistic comments from U.S. Federal Reserve Chairman Jerome Powell on the economy weighed on the metal's safe-haven appeal. * Spot gold was down 0.2% at $1,789.02 per ounce by 0131 GMT. The metal touched its highest since Feb. 25 at $1,797.75 on Monday. * U.S. gold futures fell 0.2% to $1,788.80 per ounce. * The dollar index was up 0.1% against its rivals, making gold more expensive for other currency holders. * The U.S. economy is doing better, but is "not out of the woods yet," Powell ... (full story)

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  • Category: Fundamental Analysis