Gold Rises After Powell’s Comments – 29 November, 2018

Federal Reserve Chairman Jerome Powell’s comments on a possible slower than expected interest rate hike helped boost gold along with other metals, as the dollar index dipped. Bullion’s February delivery rose to $1,229.80 per ounce, up 0.8 percent, its biggest jump since the start of the month. The strength of the dollar due to the ongoing trade war between the U.S. and China has caused investors to mostly flock to currencies instead of metals.