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Gold $4,093.85 $(32.42) -0.79% Silver $48.30 $(0.59) -1.2% Platinum $1,606.80 $(10.57) -0.65% Palladium $1,406.99 $(14.02) -0.99%

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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