Gold slips as dollar strengthens ahead of Jerome Powell testimony, FOMC minutes - Highlight Investment Research

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Wednesday 10 July 2019

Gold slips as dollar strengthens ahead of Jerome Powell testimony, FOMC minutes

Gold prices eased on July 10 as the dollar climbed higher on expectations of a less dovish US Federal Reserve, ahead of a testimony from the its Chairman Jerome Powell.
Spot gold was down 0.4% to $1,392.50 per ounce as of 0410 GMT.
US gold futures slipped 0.4% to $1,394.90 an ounce.
"A stronger US dollar is clearly weighing on gold prices. Overall, it appears that the markets are backing away from their more dovish stance given that we have important minutes being released by the US Fed," said Michael McCarthy, chief market strategist, CMC Markets.



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