Gold Sees Little Reaction To Yellen Remarks, Holding At Lower Levels

New York (Mar 4)  Gold prices remain moderately lower in early-afternoon dealings Friday, as the market did not show much reaction to prepared comments from Federal Reserve Chair Janet Yellen. She said the Fed will consider raising U.S. interest rates at this month's FOMC meeting. Yellen also said the U.S. economy and inflation are ostensibly meeting the Fed's objectives in order to get back to a more normal monetary policy--which means interest rate increases to get Fed monetary policy back to historically normal levels. Her comments contained no significant surprises, so gold and other markets were little-moved. Earlier this week several Fed officials also signaled that a March interest rate increase is very much on the table. April gold was last down $6.80 an ounce at $1,225.90.

Source: KitcoNews