Gold gains after Fed's Powell speech [CNBC]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: CNBC
Gold gains after Fed's Powell speech A salesman chooses gold chains for people buying gold in a jewelry store. Chaiwat Subprasom | Reuters Gold gained on Friday following Federal Reserve chairman 's speech as investors looked to the safe haven commodity a time of political and financial uncertainty. Powell, who spoke at the Jackson Hole symposium of central bankers, repeated his pledge Friday to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow. Spot gold U.S. gold futures Earlier on Friday gold was lower and set for its worst week in nearly five months. The market was closely watching Powell's speech for clarity on monetary policy after minutes of the U.S. central bank's July meeting tempered hopes of aggressive rate cuts. Underscoring divisions within the Fed, two central bank officials said on Thursday the U.S. economy does not need more stimulus at this point while another said he was "open-minded." Meanwhile, in the
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