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Gold edges lower after Fed delivers mixed signals


Thursday, 19 September 2019 09:12 WIB

GOLDEMAS


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Gold prices edged lower on Thursday as investors remained cautious after the U.S. Federal Reserve cut interest rates as expected but delivered mixed signals about its next move.

Spot gold was 0.3% lower at $1,489.73 per ounce, as of 01:02 GMT. Prices fell as much as 1% in the previous session before settling down 0.6%.

U.S. gold futures were down 1.2% at $1,497.5 per ounce.

The dollar stood tall on Thursday, while Asian shares edged higher tracking some modest Wall Street gains.

The Fed cut interest rates again on Wednesday to help sustain a record-long economic expansion, but signalled a higher bar to further reductions in borrowing costs, eliciting a fast and sharp rebuke from U.S. President Donald Trump.

Source : Reuters


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