Gold Erases Drop as Powell Says ‘Not Time Yet’ For Tapering Talk

Gold advanced after the Federal Reserve Chairman Jerome Powell said it is “not time yet” to start conversations about slowing the pace of the central bank’s asset purchases. The Fed said that “risks to the economic outlook remain,” softening previous language that referred to the virus posing “considerable risks.” The statement also noted that sectors hit hardest by the Covid-19 pandemic had “shown improvement.”

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