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Gold prices at 1-month high as dovish Fed stance lifts bullion appeal

Gold prices climbed to a one-month peak on Thursday after US Federal Reserve Chair Jerome Powell soothed investor fears by reassuring that he was in no rush to tighten policy, lifting metal's appeal

Topics
Gold Prices | Jerome Powell | Bullion industry

Reuters 

(This July 15 story corrects first name of the Fed chairman in the first paragraph) By Eileen Soreng (Reuters) - Gold prices climbed to a one-month peak on Thursday after U.S. Federal Reserve Chair Jerome Powell soothed investor fears by reassuring that he was in no rush to tighten policy, lifting the metal's appeal as an inflation hedge. Spot gold was up 0.3% at $1,832.23 per ounce, as of 0752 GMT. Earlier in the session, bullion hit a peak of $1,833.65, its highest since June 16. U.S. gold futures climbed 0.4% to $1,832.90. Powell stuck to the view on Wednesday ...

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First Published: Fri, July 16 2021. 07:59 IST
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