Gold jumps after Powell speech, Trump tells US companies to look for 'alternative to China' [CNBC]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: CNBC
Gold jumps after Powell speech, Trump tells US companies to look for 'alternative to China' A salesman chooses gold chains for people buying gold in a jewelry store. Chaiwat Subprasom | Reuters Gold prices jumped on Friday following Federal Reserve chairman 's speech as investors looked to the safe haven commodity in 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. Gold also got a boost from President 's tweet threatening China. Trump said Friday he's ordering American companies to immediately start looking for an alternative to China. The market was closely watching Powell's speech for clarity on monetary policy after minutes of the U.S. central bank's July meeting tem
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