Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum.
Gold prices held steady on Thursday after hitting a record high in the previous session, after the U.S. Federal Reserve delivered a super-sized interest rate cut.
Spot gold was little changed at $2,562.85 per ounce, as of 0319 GMT after scaling a record high of $2,599.92 on Wednesday.
Powell, however, said the economy remained strong, with many job market indicators like unemployment claims and even the current 4.2% unemployment rate not at worrying levels.
Zero-yield bullion tends to be a preferred investment in a lower interest rate environment and during geopolitical turmoil.
Persons:
Jerome Powell, Powell, Kelvin Wong, OANDA's
Organizations:
Aurum, U.S . Federal Reserve, Fed, Asia, Traders
Locations:
., Lebanon