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Gold $4,670.81 $(17.4) -0.37% Silver $86.52 $1.1 1.29% Platinum $2,126.74 $(4.96) -0.23% Palladium $1,491.10 $(11.81) -0.79%

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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