Gold Investors Weigh ‘Dove’ Powell for Fed Chief as Prices Hold
- Powell’s appointment is subject to Senate confirmation
- Gauge of U.S. dollar dropped for the first time in three days
What a Powell-Led Fed Could Mean for Markets
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Gold climbed for a second day as President Donald Trump announced Jerome Powell as his choice to lead the U.S. Federal Reserve.
Bullion for immediate delivery advanced 0.1 percent to $1,276.04 at 3:42 p.m. in New York. The metal earlier rose as much as 0.8 percent to $1,284.23 an ounce, the highest since Oct. 20. Fed Governor Powell has been supportive of current Chair Janet Yellen’s strategy of gradual tightening.