Bullion update

Category:-Metal | 19-Jan-2023 09:38 AM

Gold prices turned negative on Wednesday, erasing gains made on weak U.S. economic data yet staying above the $1,900 level, as key members of the Federal Reserve signaled their intent to keep pushing interest rates higher to combat inflation.

The dollar pared losses from near multi-month lows and held steady, making gold less attractive for other currency holders.

Spot gold fell 0.2% to $1,904.84 per ounce by 1:45 p.m. ET, after hitting a session low of $1,896.32 earlier.

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