Gold prices steady as dollar firms after Fed comments
Wednesday, 18 July 2018 08:36 WIB | PRECIOUS METALS |GOLDEMAS Spot EmasEmas berjangka

Gold prices on Wednesday held steady near a one-year low hit in the previous session, as the dollar firmed after Federal Reserve Chairman Jerome Powell's U.S. economic outlook reinforced views the central bank is on track to steadily hike interest rates.

Spot gold was largely unchanged at $1,227.16 an ounce at 00:47 GMT. On Tuesday, it fell 1 percent and hit its lowest since last July at $1,225.58.

U.S. gold futures for August delivery were little changed at $1,227 an ounce.   

The dollar index, which measures the greenback against a basket of six major currencies, was up 0.1 percent at 95.037.      

The Fed's Powell said on Tuesday he sees the United States on course for years more of steady growth, but was challenged in a congressional hearing by senators worried the Trump administration's trade policies were already damaging businesses in their districts.            

Source: Reuters

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