Tepid Fed Talk Comforts Gold

Published on Apr 29, 2021 12:10

COMEX Gold futures edged up as the US Fed left interest rates unchanged and remained committed to its bond-buying program. The Fed says the US economy is still a long way from full employment and that any inflationary effects are likely to be transitory. Some sectors hit by the pandemic are still weak but are improving. The Fed says the US economy is still a long way from full employment and that any inflationary effects are likely to be transitory. Fed Chief Jerome Powell stated that it is not time yet for bond purchase taper talk. COMEX Gold futures moved up from a two week low and quotes at $1785 per ounce, up 0.65% on the day.