Fed chair Jerome Powell’s rate cut hints buoy gold

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

South Africa Headlines News

The metal rose to a one-week high after the US Federal Reserve chair’s dovish remarks bolstered the expectation of an imminent interest rate

Silver and gold bars of different weights sit in a display case at the Pro Aurum precious metal vaults in Munich, Germany. Picture: BLOOMBERG/MICHAELA HANDREK-REHLE

In his testimony to Congress, Powell pointed to broad global weakness clouding the US economic outlook amid uncertainty on the fallout from the Trump administration’s trade conflict with China and other nations. “During the bull run from $1,280, gold has had relatively few pauses and dips have been pretty shallow, indicating that underlying sentiment remains positive.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

JSE led higher by Naspers amid subdued global marketsTrade is expected to be muted today ahead of US Fed chair Jerome Powell’s testimony
Source: BDliveSA - 🏆 12. / 63 Read more »

Dovish Fed could boost the JSE on ThursdayChair Jerome Powell has signalled that a US rate cut may be on the cards
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: JSE closes lower as traders await US Fed interest-rate stanceUS Federal Reserve chair Jerome Powell will testify before the US Congress on Wednesday and Thursday
Source: BDliveSA - 🏆 12. / 63 Read more »

Asian stocks in cautious mood ahead of Jerome Powell’s testimonyFederal Reserve chair to give clues on US rates decision
Source: BDliveSA - 🏆 12. / 63 Read more »

JSE lifts a little after Jerome Powell strikes dovish noteGlobal risk assets have benefited from softer comments by US Fed chair Jerome Powell, but a firmer rand weighs on rand hedges
Source: BDliveSA - 🏆 12. / 63 Read more »

Global stocks rally as Fed chair signals US rate cutGlobal bond yields also benefit but the dollar sags
Source: BDliveSA - 🏆 12. / 63 Read more »