Gold falls after Fed Chairman’s remarks

Media IN / London 02-05-2019
Gold fell to its lowest level after comments from Federal Reserve Chairman Jerome Powell shattered hopes of a rate cut soon, boosting the dollar and Treasury yields.
At 0610 GMT, spot gold was down 0.3% at $ 1272.01 an ounce, after falling to $ 1270.76, its lowest level since April 24, earlier in the session.
US gold futures fell 0.9% to $ 1273.20 an ounce.