Powell, in his remarks to lawmakers on Wednesday, said further rate increases are "a pretty good guess" of where the Fed is heading if the economy continues in its current direction.
"It's a little bit on the defensive, but hasn't collapsed," and could trade between $1,900 to $1,980 until the next Fed decision, Meir added. High interest rates weigh on the appeal of zero-yield bullion and gold has dipped in every trading session this week so far.
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