Gold edges lower as dollar firms, but Fed turmoil limits losses

Gold prices saw a slight decrease because of a stronger dollar. However, worries about President Trump’s actions regarding the Federal Reserve provided some support to gold. Trump’s attempt to remove Lisa Cook raised concerns about the Fed’s independence. Markets anticipate a possible rate cut by the Fed next month.

​Gold prices saw a slight decrease because of a stronger dollar. However, worries about President Trump’s actions regarding the Federal Reserve provided some support to gold. Trump’s attempt to remove Lisa Cook raised concerns about the Fed’s independence. Markets anticipate a possible rate cut by the Fed next month.