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Gold Takes Up Holding Pattern Before Powell Siezes Center Stage

Tuesday, 16 June 2020 15:21 WIB GOLD EMAS

Gold steadied as investors counted down to testimony from Federal Reserve Chairman Jerome Powell on the central bank’s next steps to combat the hit from the coronavirus pandemic. Powell, who delivers his semi-annual policy report Tuesday and Wednesday, is expected to echo the downbeat view he gave June 10 after policy makers signaled rates would probably stay near zero. Earlier, bullion got a lift from concerns over new outbreaks in the U.S. and China, plus a weaker dollar. Bullion has rallied this year as the pandemic triggered an unprecedented wave of stimulus, bolstering the haven’s appeal. On Monday, gold pared a drop after the Fed said it will...

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