Gold Down, but Near Two Week High, Over Fed’s Dovish Tone By Investing.com – Investing.com
- Date: 30-Jul-2021
- Source: Investing.com
- Sector:Economy
- Country:Middle East
Gold Down, but Near Two Week High, Over Fed’s Dovish Tone By Investing.com – Investing.com
By Gina Lee
Investing.com – Gold was down on Friday morning in Asia. However, the yellow metal remained near a two-week high and is set to end the week with its biggest weekly gains since May 21 over signs that the U.S. Federal Reserve is unlikely to begin asset tapering and hike interest rates in the short term.
edge down 0.12% to $1,829 by 11:50 PM ET (3:50 AM GMT), after hitting its highest level since Jul. 15 on Thursday. The , which usually moves inversely to gold, edged up on Friday but remained near the one-month low hit during the previous session. Investors continue to digest the Fed’s comment that the labor market still had “some ground to cover” before beginning asset tapering as it handed down its on Wednesday.
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