COMEX Gold Holds Above $1800 Per Ounce

Published on Oct 25, 2021 17:10

COMEX Gold tested one week high above $1800 per ounce as the US Federal Reserve Chairman Jerome Powell said that the central bank would watch carefully for signs that households and businesses were expecting sustained price pressures to continue. Powell said Friday at a virtual conference that US central bank should start the process of reducing its support of the economy by cutting back on its asset purchases, but should not yet touch the ultra low interest rate regime. Gold currently trades up 0.35% at $1802 per ounce.