Gold prices regained some ground on Wednesday as the dollar’s rally cooled, but any further advance is likely to be capped with Federal Reserve Chair Jerome Powell signalling more rate hikes.
Spot gold rebounded 0.3% to $1,820.31 per ounce by noon ET, after shedding nearly 2% in the previous session. US gold futures ticked 0.1% higher to trade at $1,822.90 per ounce in New York.
Meanwhile, the US dollar eased from multi-month highs, making bullion cheaper for overseas buyers.
London-listed company KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.