{"id":2120,"date":"2023-05-20T04:33:30","date_gmt":"2023-05-20T04:33:30","guid":{"rendered":"https:\/\/prendergast.net\/?p=2120"},"modified":"2023-05-20T04:33:30","modified_gmt":"2023-05-20T04:33:30","slug":"gold-rallies-to-daily-high-on-short-covering-powell-remarks","status":"publish","type":"post","link":"https:\/\/prendergast.net\/?p=2120","title":{"rendered":"Gold rallies to daily high on short covering Powell remarks"},"content":{"rendered":"<div id='post-thumb'><img alt='' src='https:\/\/markethive.com\/uploads\/david-ogden\/images\/blog_364370.gif' style='height:1px; width:1px' \/><\/div>\n<h1><span style=\"font-size:18pt\"><span style=\"font-family:&quot;Liberation Sans&quot;,sans-serif\"><strong>Gold rallies to daily high on short covering, Powell remarks<\/strong><\/span><\/span><\/h1>\n<p>Gold prices have pushed to double-digit gains in late-morning trading Friday. Short covering by the shorter-term futures traders, after the recent solid price losses, is featured. Also, the yellow metal rallied as Federal Reserve Chairman Jerome Powell said in a panel discussion that developments in the banking sector may mean interest rates may not need to rise as much to meet the Fed&rsquo;s policy goals. However, other comments Powell made at the panel discussion were not dovish, as he said the FOMC is strongly committed to returning to the 2% annual U.S. inflation goal. A sell off in the U.S. dollar index today is also aiding the precious metals market bulls. June gold last up $16.90 at $1,976.70.<\/p>\n<p>Live 24 hours gold chart [Kitco Inc.]<\/p>\n<p>By<\/p>\n<p>Jim Wyckoff<\/p>\n<p>For Kitco News<\/p>\n<p>www.kitco.com<\/p>\n<p><span style=\"color:#000080\"><span style=\"font-family:Tahoma\"><span style=\"font-size:medium\"><u><a href=\"https:\/\/kms.kinesis.money\/signup?referrer=KM13461268\" style=\"color:#000080; text-decoration:underline\">Time to Buy Gold and Silver<\/a><\/u><\/span><\/span><\/span><\/p>\n<p><\/p>\n<p>Tim Moseley<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold rallies to daily high on short covering, Powell remarks Gold prices have pushed to double-digit gains in late-morning trading Friday. Short covering by the shorter-term futures traders, after the recent solid price losses, is featured. Also, the yellow metal rallied as Federal Reserve Chairman Jerome Powell said in a panel discussion that developments in &hellip; <a href=\"https:\/\/prendergast.net\/?p=2120\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Gold rallies to daily high on short covering Powell remarks<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[290,291],"_links":{"self":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2120"}],"collection":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2120"}],"version-history":[{"count":0,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2120\/revisions"}],"wp:attachment":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}