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Gold Settles Above $1,400 as Investors Await Interest-Rate Hints From Fed Chair Powell
Wednesday, 10 July 2019 01:32 WIB | PRECIOUS METALS |GOLDEMAS

Gold futures rose Tuesday to top $1,400 an ounce, as investors awaited Federal Reserve Chairman Jerome Powell™s testimony to Congress which could offer clues about the prospects for interest rate cuts in coming months.

Powell delivered remarks on recent stress tests for banks at a conference in Boston Tuesday without commenting on monetary policy, but the week™s main event was expected to be his two days of testimony on the economic outlook before Congress beginning Wednesday. That™s the same day the Fed will also release the minutes from the central bank™s June meeting.

Gold for August delivery on Comex rose 50 cents, or 0.04%, to settle at $1,400.50 an ounce after trading as low as $1,387.50. September silver tacked o 9.7 cents, or 0.6%, at $15.147 an ounce.

Source : Marketwatch

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