Gold Eases After Trump Downplays Clash With Fed Chair Powell

Gold extended a decline on Friday as the dollar rose after Donald Trump downplayed his clash with Federal Reserve Chairman Jerome Powell, easing concerns around the central bank’s independence.

Trump maintained on Thursday that there was “no tension” with the Fed chief and indicated that problems with renovations of the Fed headquarters probably weren’t reason enough to fire the central bank head. A stronger greenback makes gold more expensive for many buyers.