Gold futures slide as metals market weighs Fed policy

Gold futures were trading lower Thursday morning, as investors gravitated toward equities and away from assets perceived as havens.

Specifically, the Fed said “if progress continues broadly as expected, the committee judges that a moderation in the pace of asset purchases may soon be warranted.” “Fed Chairman Powell at his press conference sounded upbeat on U.S. economic and jobs-growth prospects,” wrote Jim Wyckoff, senior analyst at Kitco.com, referring to Powell’s 2:30 p.m. Eastern Time media Q&A following the Fed’s updated policy statement.

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