Gold plunges further, as markets await Powell speech [Video]
|The price of gold fell for a third consecutive session on Wednesday, as traders waited for comments from Fed Chair Powell.
Jerome Powell is expected to talk about the central bank’s recent decision to keep interest rates unchanged.
In addition to this, many are hoping for some economic forecasts, and insights as to when the next rate hike could come.
This comes as the U.S. economy remains resilient, despite the recent global slowdown in growth.
XAUUSD fell to a low of $1,948 earlier today.
Visit here to see raw, real-time ECN spreads
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.