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Gold Steady After Powell Speaks; Palladium Near Record


Wednesday, 27 February 2019 10:39 WIB

GOLDEMAS


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Gold was little changed after Federal Reserve Chairman Jerome Powell said the central bank was in no rush to make a judgment on policy changes. Palladium was steady after hitting a record Tuesday, and platinumheaded for the biggest monthly gain in more than a year.

In a prepared testimony to the Senate Banking Committee on Tuesday, Powell said with inflation pressures muted and ongoing government policy uncertainty, a patient approach to future policy changes was warranted. He’s due to deliverthe second half of his semiannual testimony on monetary policy and the state of the economy to a House committee Wednesday.

President Donald Trump arrived in Hanoi late Tuesday for a second summit with Kim Jong Un that has already shown flashes of disorder as American journalists were abruptly evicted from a hotel housing the North Korean leader and key details of the meeting remained a mystery.

Spot gold flat at $1,329.30/oz at 9:49am in Singapore.

Source : Bloomberg


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