Gold Falls on Stronger Dollar, Trade Optimism
By
Joseph Hoppe, Dow Jones Newswires
Gold futures fell early Thursday on a stronger U.S. dollar, optimism for a U.S.-U.K. trade deal and some lingering disappointment after the Federal Reserve left interest rates unchanged.
Futures were down 1.2% at $3,351.50 a troy ounce. The Fed indicated it wasn’t in a rush to cut rates, despite Chair Jerome Powell warning that if tariffs are sustained, inflation will rise, growth will slow and unemployment will increase, ANZ Research analysts say in a note.
Powell’s comments triggered a rally in the dollar, keeping downward pressure on bullion, ANZ says.
