(Bloomberg) — Gold climbed, recovering from Thursday’s drop, as the dollar weakened and investors weighed the impact of the Federal Reserve’s new approach to setting U.S. monetary policy.Comments from Fed Chair Jerome Powell sent bullion on a roller-coaster ride on Thursday after he announced a more relaxed approach on inflation, with the central bank seeking inflation that averages 2% over time. He also noted that the Fed wouldn’t hesitate to act if consumer prices rose considerably above its goals.Higher inflation tolerance and low interest rates should see U.S. real yields fall in the medium-to-longer term, which is supportive for gold, …read more
Source:: Yahoo Finance
