Gold Wavers as Traders Assess Fed Rate Outlook, Geopolitics

Gold closed little changed as prospects for a Fed rate cut countered easing geopolitical risk.

The dollar and bond yields pushed lower — lifting bullion — after a Bloomberg report that White House National Economic Council Director Kevin Hassett is seen by advisers and allies of US President Donald Trump as the frontrunner to be the next Federal Reserve chair. Hassett is seen as someone who would bring the president’s approach to interest-rate cutting to the Fed, which Trump has long wanted to control, according to people familiar with the matter.