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Gold prices fluctuate amid market uncertainty and Fed speculation.

1 min read
Source: Kitco NEWS
TL;DR

Gold prices surged due to short covering by shorter-term futures traders and Federal Reserve Chairman Jerome Powell's remarks that interest rates may not need to rise as much to meet the Fed's policy goals. However, Powell also stated that the FOMC is committed to returning to the 2% annual US inflation goal. The sell-off in the US dollar index also supported the precious metals market bulls. June gold rose $16.90 to $1,976.70.

Topics:businessfinance#federal-reserve#finance#gold#interest-rates#short-covering#us-dollar-index
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  1. Gold rallies to daily high on short covering, Powell remarks  Kitco NEWS
  2. Gold Price Forecast – Gold Markets Continue to Look for Buyers  FX Empire
  3. Gold futures log biggest weekly loss in over 3 months  MarketWatch
  4. 'Tough pill to swallow': Gold price plunges as markets bet on Fed's June rate outcome  Kitco NEWS
  5. Gold gains on dollar pullback but faces weekly loss  CNBC

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