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Gold Prices Edge Up as U.S. Dollar Slips After Fed
Gold prices edged up on Thursday in Asia after the U.S. dollar slipped amid growing expectations that the U.S. Federal Reserve would halt its rate tightening cycle in 2019.
Minutes from the Fed’s Dec. 18-19 policy meeting revealed that several members said they could afford to be “patient” about the future interest rate hike, citing a list of concerns including volatility in financial markets, slowing global growth and muted inflation pressures.
“Gold is getting a bit of support out of a dovish Fed and institutional instability in the U.S,” said Kyle Rodda, a market analyst at IG, Australia.