Gold is likely to see safe-haven buying amid weak economic data, according to strategists at ANZ Bank. Key quotes “Precious metals gained after Fed Chair Powell’s bearish comments. The head of the central bank warned the Senate committee that the current downturn is significantly worse than any recession since World War II and that long-term unemployment could damage the economy.” “Powell reiterated his commitment to use a full range of tools to support the economy, including leaving interest rates near zero until the economy is back on track. This saw safe-haven buying remain strong, with gold prices pushing back towards $1,750/oz.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next FOMC Minutes Preview: Any positive mention of negative rates could dent the USD FX Street 2 years Gold is likely to see safe-haven buying amid weak economic data, according to strategists at ANZ Bank. Key quotes “Precious metals gained after Fed Chair Powell’s bearish comments. The head of the central bank warned the Senate committee that the current downturn is significantly worse than any recession since World War II and that long-term unemployment could damage the economy.” “Powell reiterated his commitment to use a full range of tools to support the economy, including leaving interest rates near zero until the economy is back on track. This saw safe-haven buying remain strong, with gold prices pushing back towards… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
