Gold soars 2% after Powell speech, Trump tweets

From uk.reuters.com

Gold surged 2% on Friday as investors interpreted U.S. Federal Reserve Chair Jerome Powell’s speech as leaning towards a dovish monetary policy stance and President Donald Trump’s latest comments exacerbated trade tensions with China. Spot gold rose 1.9% at $1,527.20 an ounce by 12:01 pm EDT (1601 GMT), shaking off slight headwinds ahead of the Fed Chair’s speech. Prices earlier rose to $1,528.50, the highest since Aug. 13, when it had scaled a six-year peak of $1,534.31. U.S. gold futures were up 1.9% to $1,536.90. “The fact that he (Powell) said that they (the Fed) will act appropriately to sustain ... (full story)