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Gold prices inch up as dollar softens on Fed rate outlook


Friday, 11 January 2019 08:52 WIB

GOLDEMASEmas berjangkaSpot Gold


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Gold prices edged up on Friday as the dollar softened a touch on expectations the U.S. central bank will keep interest rates steady if the economy slows this year, while the Sino-U.S. trade spat also remained in focus.

Spot gold had risen 0.2 percent to $1,288.83 per ounce by 01:17 GMT.

U.S. gold futures climbed about 0.2 percent to $1,289.40 per ounce.

The dollar index, which tracks the greenback against major currencies, was marginally lower in early Asian trade, but was off its near three-month lows posted in the previous session.

U.S. Federal Reserve Chairman Jerome Powell said on Thursday that the central bank had the ability to be patient on monetary policy given stable price measures, and he downplayed predictions from policymakers suggesting interest rates would be raised twice more this year.

Source: Reuters


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