Gold Gained After Fed Chairman Powell Highlighted Risks To The U.S. Economy

Gold trading range for the day is 34183-35213.

Gold gained after Fed Chairman Powell highlighted risks to the U.S. economy and bolstered expectations of an interest rate cut later this month.

Powell said concerns about trade policy and a weak global economy "continue to weigh on the U.S. economic outlook.

Expectations for a 50 basis point rate cut this month have evaporated, but investors still expect a 25 basis point cut due to weak inflation and trade war worries.

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