CryptoCurrency
Gold Falls on Profit-Taking, Easing Worries About Iran
Gold prices slipped as investors booked profits after the precious metal notched a record high Wednesday, while easing fears of imminent U.S. military action against Iran also weighed on demand for havens.
Sentiment was further pressured by President Donald Trump’s softer tone on Federal Reserve Chair Jerome Powell. In an interview with Reuters, Trump said he has no plans to fire Powell despite a Justice Department criminal investigation.
Gold futures in New York fell 0.6% to $4,608.60 a troy ounce. Investors are now looking to U.S. weekly jobless-claims data for clues on the Fed’s policy outlook, as lower interest rates tend to support nonyielding assets such as gold.
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