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Gold edges higher on softer dollar; hawkish Powell caps upside
Gold edges higher on softer dollar; hawkish Powell caps upside
The dollar index was down from three-month highs scaled on Wednesday, making bullion more affordable for buyers holding other currencies. Fed Chair Powell on Wednesday reaffirmed his message of higher and potentially faster interest rate hikes, but emphasized that debate was still underway with a decision hinging on data to be issued before the U.S. central bank's policy meeting in two weeks
The dollar index was down from three-month highs scaled on Wednesday, making bullion more affordable for buyers holding other currencies. Fed Chair Powell on Wednesday reaffirmed his message of higher and potentially faster interest rate hikes, but emphasized that debate was still underway with a decision hinging on data to be issued before the U.S. central bank's policy meeting in two weeks