Gold Pares Gains After Trump Says Not Planning to Fire Powell

Gold pared much of an earlier gain after President Donald Trump said he’s “not planning” to fire Federal Reserve Chair Jerome Powell.

Trump said his administration is “very concerned,” but “not planning on doing anything” about Powell. The president later added, when asked if he was completely ruling out the idea of firing Powell, that “it’s highly unlikely, unless he has to leave” due to “fraud.”