Spot gold was up 0.4% to $1,780.05 per ounce by 2:33 p.m. ET (1933 GMT), after falling as much as 0.9% on Tuesday after Federal Reserve Chair Jerome Powell's remarks the central bank will discuss whether to end bond purchases earlier than expected in its December meeting.
NEW YORK: Gold rose on Wednesday, tracking a retreat in the dollar as investors used a pullback in the previous session to buy bullion as a hedge against wider market volatility amid concerns over the impact of the Omicron coronavirus variant.
Spot gold was up 0.4% to $1,780.05 per ounce by 2:33 p.m. ET (1933 GMT), after falling as much as 0.9% on Tuesday after Federal Reserve Chair Jerome Powell's remarks the central bank will discuss whether to end bond purchases earlier than expected in its December meeting.
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