Gold Trims Loss as Fed’s Williams Signals a Near-Term Rate Cut

Gold trimmed losses after a Federal Reserve official signaled an interest-rate cut is possible in the near term.

New York Fed President John Williams said he sees room for the US central bank to cut rates again in the near term as the labor market softens. In the text of a speech he delivered Friday in Santiago, Chile, Williams said downside risks to employment have increased while upside risks to inflation have eased.