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Gold edges higher after Fed’s inflation warning triggers decline
Gold edged higher following a decline in the previous session triggered by Federal Reserve chairman Jerome Powell’s warning of inflation risks for the US economy. Bullion was trading around $3 380 an ounce early in Asia, after falling 0.6% on Wednesday. While the Fed left rates unchanged and policymakers still penciled in two cuts by year-end, Powell said the central bank’s market committee continued to expect tariffs to work their way into final prices.
Gold edged higher following a decline in the previous session triggered by Federal Reserve chairman Jerome Powell’s warning of inflation risks for the US economy.
Bullion was trading around $3 380 an ounce early in Asia, after falling 0.6% on Wednesday. While the Fed left rates unchanged and policymakers still penciled in two cuts by year-end, Powell said the central bank’s market committee continued to expect tariffs to work their way into final prices.
