Gold hovers near record high as Fed's Powell grabs limelight
Gold prices steadied on Thursday after hitting a record high on the previous session, aided by the expectations for another big rate cut by the U.S. Federal Reserve, while traders await Federal Reserve Chair Jerome Powell's comments for further hints on the policy outlook.
FUNDAMENTALS
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-113683104»> * Spot gold held its ground at $2,656.60 per ounce, as of 0021 GMT. Bullion hit a record high of $2,670.43 on Wednesday.
* U.S. gold futures edged 0.2% lower to $2,680.00.
* The report from the Commerce Department on Wednesday also showed sales of new U.S. single-family homes fell less than expected in August.
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