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Gold Holds Gain on Fed's Signals, Coronavirus Concerns
Thursday, 30 January 2020 08:21 WIB | PRECIOUS METALS |SILVEREMASGOLD

Gold held an advance after the Federal Reserve continued to signal policy would stay on hold and cited inflation concerns, while the spread of the novel coronavirus boosted demand for havens.

The U.S. central bank kept its key interest rate unchanged Wednesday, while stressing the importance of lifting inflation to officials' target of 2%. Chairman Jerome Powell's comments foreshadowed a potential shift toward easier policyover time. He also said the outbreak of the virus will likely hit the Chinese economy and could spill wider, but it was too early to assess its impact on the U.S.

Spot gold little changed at $1,577.79/oz at 8:48am in Singapore after +0.6% on Wednesday; so far in Jan. prices +4%, heading for biggest monthly gain since August.

Silver +0.2% to $17.5853/oz after +0.5% on Wednesday. Platinum +0.2% to $979/oz. Palladium +0.3% to $2,306.90/oz.

Source : Bloomberg

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