Gold Dropped As The Dollar Gains After Data Underlined The Strength Of The U.S. Economy

Gold trading range for the day is 30065-30795.

Gold dropped as the dollar gains after data underlined the strength of the U.S. economy and Italian political turmoil weakened the euro.

The U.S. economy does not face a large chance of a recession in the next two years and the Fed plans to keep gradually raising interest rates, Fed Chairman Jerome Powell said.

U.S. economic growth accelerated in the second quarter at its fastest pace in nearly four years as previously estimated.


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