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Gold prices Gain; Powell delivers Bullish Assessment of US Economy by Investing.com

© Reuters. Investing.com – The gold price rose while the dollar was flat on Friday in Asia after Federal Reserve…


© Reuters.

Investing.com – The gold price rose while the dollar was flat on Friday in Asia after Federal Reserve Chairman Jerome Powell delivered a bullish assessment of the US economy on Thursday.

“Our economy is currently performing very well overall with strong employment creation and gradually rising wages,” Powell said in his final public remarks before the central bank entered a blackout period before its meeting on 18-19 December. “In fact, on many level measures, our labor market is very strong.”

The Wall Street Journal reported on Thursday that Fed could tighten monetary policy at a slower pace than expected.

COMEX reference mark for February amounted to $ 1

.60 per 1,245.20 per troy ounce because the flight to security held the yellow metal’s newfound support over $ 1,240 intact.

In other news, gold-backed traded funds (ETFs) recorded inflows throughout the world’s largest regions in November, as volatile equity markets drove vessels for security purchases, World Gold Council said on Thursday.

At the same time, the one who runs the greenback traces against a basket of other currencies last traded at 96,787 at 11:54 ET (04:54 GMT), an increase of 0.02%. November US non-farm payrolls, unemployment and payroll data will be released later on Friday.

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