At the time of writing, June Comex gold futures were trading at $1,875.00, up 0.33% on the day, after breaching the $1,900 an ounce level earlier in the session.
On Wednesday, the Fed raised rates by 50 basis points, the biggest rate hike since 2000.
“A 75-basis-point increase is not something the committee is actively considering,” Powell told reporters Wednesday.
“Households and businesses are in strong financial shape, the labor market is very very strong, the economy is strong and is well-positioned to handle tighter monetary policy.
“DXY is trading back near 103 as markets reassess their dovish take on the Fed,” said BBH Global Currency Strategy head Win Thin.
“We were surprised that he seemed to rule out a 75 bp hike as we believe the Fed should always keep all options open.
Thin advises to carefully monitor upcoming Fed speakers, including New York Fed President John Williams, Minneapolis Federal Reserve Bank President Neel Kashkari, Atlanta Fed president Raphael Bostic, St.