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15.04.202110:42:00UTC+00Gold Rises On Softer Dollar

Gold prices edged higher on Thursday and the dollar hit a four-week low, tracking falls in U.S. bond yields after Fed Chair Jerome Powell indicated an extension of the dovish policy.

Spot gold rose 0.6 percent to $1,747.44 per ounce, while U.S. gold futures were up 0.6 percent at $1,747.40.

Speaking on Wednesday to the Economic Club of Washington, Fed Chair Jerome Powell reiterated that the Fed would only begin winding down its asset purchases when it's made substantial progress towards its goals.

He also signaled that tapering would happen "well before" the U.S. central bank starts considering raising interest rates.

Investors await reports on weekly jobless claims, retail sales and industrial production later in the day for further clarity on the recovery in the world's largest economy.

Vaccine news and rising U.S. China tensions also remain on investors' radar.

Denmark became the first country in the European Union to drop AstraZeneca Plc's vaccine amid concerns over serious side effects.

A U.S. Centers for Disease Control and Prevention panel on Wednesday postponed making a recommendation about the continued use of the Johnson & Johnson's Covid-19 vaccine, saying that panel members want more information about the people who may be most at risk for blood clots.

A Chinese diplomat has indirectly warned the U.S. over strong linkages and interference over Hong Kong issues.

Separately, Taiwan President Tsai Ing-wen told a visiting delegation of former senior U.S. officials that the island would work with the United States to deter 'adventurous manoeuvres and provocations' amid threats from Chinese military activities.



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