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Gold $4,620.79 $(141.81) -2.98% Silver $70.96 $(4.36) -5.79% Platinum $1,921.90 $(44.36) -2.26% Palladium $1,457.15 $(23.4) -1.58%

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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