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Gold Prices Dip on Potential Trade Deal; Fed Statement in Focus


Thursday, 2 May 2019 13:20 WIB

GOLDEMAS


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Gold prices dipped after the Federal Open Market Committee left its overnight funds rate in a range of 2.25% to 2.5% as expected.

Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, were down 0.7% at $1,275.15 per ounce by 1:25 AM ET (05:25 GMT).

In a news conference, Fed Chairman Jerome Powell said the central bank’s “policy stance is appropriate right now” and that they “don't see a strong case for moving in either direction.”

The most recent measure of core PCE, the Fed's preferred measure of inflation, showed a slowdown to a rate 1.6%, well below the central bank's 2% target.

Source : Investing.com


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