Gold Rises in Early Asian Trading as Dip Buying Emerges After Powell-Induced Drop

Deep News
Yesterday

Gold edged higher during early Asian trading hours, rebounding from overnight losses triggered by Federal Reserve Chair Jerome Powell's remarks, with dip buying likely supporting the recovery. Spot gold climbed 0.5% to $3,949.47 per ounce. Powell's comments suggested a December rate cut was not a foregone conclusion, though the metal's upside may remain capped. Analysts at ANZ Research noted in a report that safe-haven demand for the precious metal could be restrained amid improving prospects for trade negotiations.

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