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"We just want some more confidence before we take that very important step of beginning to cut interest rates," he said.
Gold, silver advanceGold and silver could rise further this year on hopes that the U.S. Federal Reserve will lower interest rates, said UBS.
"Also, this comes with a weaker dollar," said Joni Teves, adding gold will likely hit $2,200 per ounce in 2024.
Persons:
Jerome Powell, Hong, Joni Teves
Organizations:
CNBC, U.S . Federal, CSI, Dow, Nasdaq, UBS, U.S, Senators, House Republicans, Citi
Locations:
China, U.S, Ukraine, Israel