Gold Retreats as Fed Officials See U.S. Recovery Despite Risks

Gold Retreats as Fed Officials See U.S. Recovery Despite Risks

(Bloomberg) -- Gold declined after Federal Reserve policy makers said the U.S. economy is on the road to recovery despite still facing risks, while traders await consumer price data later Wednesday amid jitters over inflation.

The economic situation is improving, but it’s premature to discuss reducing monetary policy support, according to a chorus of Fed officials. “The outlook is bright, but risks remain, and we are far from our goals,” Governor Lael Brainard told a virtual event Tuesday, adding that it’s important to remain focused on achieving the Fed’s goals for maximum-employment and inflation.