Gold supported ahead of Powell speech
Published on Feb 07, 2023 11:59
Gold stays supported above $1885 mark on Tuesday as dollar shows some weakness ahead of Federal Reserve (Fed) chair Jerome Powell speech that is lined up later in the global day. The yellow metal however lingers at its lowest level in three weeks, as dollar climbed to a four week high of 103.40 as stronger-than-expected U.S. jobs data increased expectations for interest rate hikes by the Fed. COMEX gold is quoting at $1885.30 an ounce, up 0.31% on the day.
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