Gold held a gain as investors weighed the Federal Reserve’s signal that it would keep interest rates on hold through 2020. Palladium notched a fresh record.
Spot gold -0.1% to $1,473.64/oz at 6:38am in London; +0.7% on Wednesday. Bloomberg Dollar Spot Index steady near lowest level in almost six weeks.
Comments from Fed Chairman Jerome Powell boosted bets that the bar for an increase in rates remains high as economic growth is steady without fueling inflation. In the first unanimous vote since May, central bank officials left rates unchanged at their gathering on Wednesday, following three consecutive cuts.
Source : Bloomberg