Chair Jerome Powell: “Fed To Expand Balance Sheet ‘Soon’”

Gold rose to daily highs

Markets digested Federal Reserve Chair Jerome Powell’s comments. That the U.S. central bank will start expanding its balance sheet “soon.”

December Comex gold futures were last trading at $1,510.10, up 0.38% on the day after briefly touching Tuesday’s high of $1,515 an ounce.

Powell remained potentially open to further rate cuts, citing risks coming from the global economy while stating that the Fed’s asset holdings might also need to begin to expand.

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24 hour spot gold chart


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