Gold Rises After Fed Official Plays Down Rate Hike Prospects
- Fed’s Waller sees tapering next month, rate hike some time off
- Bullion trading at premium on inflation fears, OCBC’s Lee says
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Gold rose for a second day following commentary from a Federal Reserve official that played down the possibility of imminent rate hikes.
Governor Christopher Waller said Tuesday the Fed should begin tapering its bond-buying program next month, though interest-rate increases are probably “still some time off.” Upcoming speeches and discussions by officials including Randal Quarles, Mary Daly and Chair Jerome Powell will also be keenly watched ahead of the central bank’s meeting next month.