Gold prices fluctuate amid market uncertainty and Fed speculation.
TL;DR Summary
Gold prices surged due to short covering by shorter-term futures traders and Federal Reserve Chairman Jerome Powell's remarks that interest rates may not need to rise as much to meet the Fed's policy goals. However, Powell also stated that the FOMC is committed to returning to the 2% annual US inflation goal. The sell-off in the US dollar index also supported the precious metals market bulls. June gold rose $16.90 to $1,976.70.
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