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Gold Closes Lower Following Fed Remarks

M. Ali 27 August, 2020 11:10 pm Commodities, Market Update

Gold prices finished Thursday lower, after remarks by the Chairman of the United States Federal Reserve, Jerome Powell, came in line with market expectations.

Gold futures for December delivery closed lower by $19.90, or 1%, at $1,932.60 per ounce.

The yellow metal has diminished most of its earlier gains, after trading as as high as $1,987 an ounce earlier today.

Spot Gold is now trading at 1,934.26, down by 0.90%.

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