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April 14, 2021, 2:10 p.m. EDT

Gold futures settle with a loss, move lower after Beige Book release

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    Gold Jun 2021 (GCM21)

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By Myra P. Saefong

GCM21

Gold futures settled with a loss on Wednesday, with strength in U.S. Treasury yields helping prices to lose most of what they gained in the previous session. Prices showed little reaction to comments from Federal Reserve Chairman Jerome Powell to the Economic Club of Washington. Powell said the Fed would taper asset purchases well before any interest rate increase, but offered no date for a shift in policy. Gold prices then moved lower in electronic trading after the Fed Beige Book reported a moderate acceleration in the economy. June gold /zigman2/quotes/210036734/delayed GCM21 +0.29% was at $1,734.60 an ounce in electronic dealings, after losing $11.30, or nearly 0.7%, to settle at $1,736.30 an ounce on Comex.

/zigman2/quotes/210036734/delayed
US : U.S.: Nymex
$ 1,836.70
+5.40 +0.29%
Volume: 62,189
May 10, 2021 4:49a
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