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Gold Prices Rise Following Powell Testimony

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Gold prices edged up on Wednesday in Asia after U.S. Federal Reserve Chairman Jerome Powell testified before the Senate overnight.

At 11:57 PM ET (04:57 GMT), Gold Futures on the Comex division of the New York Mercantile Exchange were up $2.05, or 0.15%, to $1,331.55 a troy ounce.

Powell said in the first of a two-day Congressional address at the Senate Committee on Banking that the U.S. economic outlook was “generally favorable” but still faced challenges from abroad.

Gold Prices Rise Following Powell Testimony. (Shutterstock)

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