Gold off record highs as Fed's Powell douses rate-cut hopes
Gold prices retreated on Wednesday from an all-time high hit in the previous session, as Federal Reserve Chair Jerome Powell's hawkish comment cemented views of slower rate cuts this year, while investors awaited a key U.S. inflation report.
Spot gold fell 0.4% to $2,885.53 per ounce by 0504 GMT. Bullion climbed to a record high of $2,942.70 on Tuesday. U.S. gold futures eased 0.8% to $2,910.70.
Spot silver eased 0.2% to $31.83 per ounce, platinum lost 0.5% to $978.06 and palladium fell 0.2% to $973.54. Reuters
Gold prices retreated on Wednesday from an all-time high hit in the previous session, as Federal Reserve Chair Jerome Powell's hawkish comment cemented views of slower rate cuts this year, while investors awaited a key U.S. inflation report.
Spot gold fell 0.4% to $2,885.53 per ounce by 0504 GMT. Bullion climbed to a record high of $2,942.70 on Tuesday. U.S. gold futures eased 0.8% to $2,910.70.
Spot silver eased 0.2% to $31.83 per ounce, platinum lost 0.5% to $978.06 and palladium fell 0.2% to $973.54. Reuters
Gold prices retreated on Wednesday from an all-time high hit in the previous session, as Federal Reserve Chair Jerome Powell's hawkish comment cemented views of slower rate cuts this year, while investors awaited a key U.S. inflation report.
Spot gold fell 0.4% to $2,885.53 per ounce by 0504 GMT. Bullion climbed to a record high of $2,942.70 on Tuesday. U.S. gold futures eased 0.8% to $2,910.70.
Spot silver eased 0.2% to $31.83 per ounce, platinum lost 0.5% to $978.06 and palladium fell 0.2% to $973.54. Reuters
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Gold off record highs as Fed's Powell douses rate-cut hopes
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