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Gold $5,057.07 $44.86 0.89% Silver $109.34 $4.03 3.82% Platinum $2,707.46 $(80.78) -2.9% Palladium $2,023.65 $(3.89) -0.19%

Gold drifts lower after Powell pushes back prospect of March rate cut

Gold drifts lower after Powell pushes back prospect of March rate cut

Jan 31 (Reuters) - Gold prices reversed course and edged lower on Wednesday after the Federal Reserve Chair Jerome Powell pushed back strongly against expectations of a U.S. rate cut by March.

Spot gold eased 0.1% at $2,034.37 per ounce by 03:10 p.m. ET (2010 GMT) after rising as much as 1% earlier in the session. Bullion was down 1.3% this month but have held above the $2,000 per ounce psychological level so far this year...[LINK]

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