-
Gold Nudges Higher as Traders Look for Clues on Rates and Dollar
Gold edged higher, with investors waiting for the next clue on the Federal Reserve’s path for cutting interest rates. Bullion is trading about $37 an ounce short of Wednesday’s all-time high — a record triggered by the US central bank’s 25 basis-point rate cut. Prices then retreated after Fed Chair Jerome Powell’s comments on the monetary policy path were less dovish than expected, saying officials were in a “meeting-by-meeting situation” regarding any further easing. Lower rates typically benefit gold, as it doesn’t pay yields. Powell’s stance also bolstered the dollar, which is a negative for the ... (full story)