Gold was up on Thursday morning in Asia but slipped just below the four-week high hit in the previous session, as U.S. Federal Reserve Chair Jerome Powell signaled the central bank’s “powerful support” for economic recovery.
Gold futures edged up 0.15% to $1,827.75 by 1:03 AM ET (5:03 AM GMT), remaining above the $1,800 mark. The dollar, which usually moves inversely to gold, inched up on Thursday.