Gold eases from six-week high ahead of Fed chair confirmation

Reuters/Jan Harvey/11-28-17

Gold eased back on Tuesday from the previous day’s six-week high as the dollar edged up ahead of a confirmation hearing for U.S. Federal Reserve chair nominee Jerome Powell.

In prepared remarks for the hearing released by the Fed on Monday, Powell defended the Fed’s use of its crisis-fighting powers, suggesting a broad extension of current Chair Janet Yellen’s stance on monetary policy.

However, there is some risk around the event which is supporting the dollar after its slide to two-month lows on Monday, analysts said.

Share
This entry was posted in Gold News, Gold Price, Gold Views. Bookmark the permalink.

Comments are closed.