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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
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What a Powell-Led Fed Could Mean for Markets

Updated on

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.