GOLD NEWS UPDATE

Gold prices edged up on Wednesday in Asia as traders digested the latest news on Sino-U.S. trade tension and a speech by U.S. Federal Reserve Chairman Jerome Powell.While Powell said he didn’t foresee an economic downturn, with unemployment near at a half-century low and economic output rising at a “solid pace,” he said rural areas needed special support, such as access to affordable credit to start small businesses and high-quality education to train workers. It was yet another sign that the Fed was in no hurry to tighten rates.

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