Gold on MCX settled down -0.36% at 30781 as prices remained under pressure as dollar rallies to 11 month peaks.
The U.S. jobs market does not appear overly tight and the Federal Reserve should continue with a gradual pace of interest rate rises amid a strong economy to balance its employment and inflation goals, Federal Reserve chairman Jerome Powell said.
Concerns about U.S. trade policy are increasing among business officials who are beginning to hold off on hiring and investment decisions given the level of uncertainty, Powell said.
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