Fed chair Jerome Powell’s warning of tough times ahead caps losses
Gold bullion is displayed at Hatton Garden Metals precious metal dealers in London, Britain. Picture: REUTERS/NEIL HALL
“Powell’s comments that he is not keen on negative interest rates have put a damper on rally,” said Avtar Sandu, a senior commodities manager at Phillip Futures. Central banks and governments around the globe have unleashed unprecedented fiscal and monetary support to shield their economies from the pandemic.
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