Gold prices jumped in global markets during midday trading on Wednesday, exceeding $2,314 an ounce, following statements by Federal Reserve Chairman Jerome Powell, during which he indicated that monetary policy makers at the bank were not in a rush to reduce interest rates, which made the timing of the reduction… Interest is uncertain.
Gold futures prices rose by $33.10, or 1.45 percent, to reach $2,314.90 per ounce.
In his speech during the opening of the Business, Government and Society 2024 Conference at Stanford University, Powell said that efforts to assess the current situation of inflation in the United States will take time, but the readings and numbers indicate that inflation is moving sustainably towards the target level of 2 percent.
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