Gold Steadies as Fed’s Powell Says Long-Term Inflation in Check

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Gold:An employee handles one kilogram gold bars at a bullion dealer headquarters in Bangkok, Thailand.Gold steadied after two days of gains, with the Federal Reserve saying long-term US inflation expectations appeared to be in check even as the war escalated in the Middle East.Bullion was near $4,510 an ounce, after adding 0.4% in the previous session. While a spike in oil prices has stoked inflationary pressures and rate-hike bets, Fed Chair Jerome Powell said the central bank’s policy was “in a good place for us to wait and see.” Dip-buyers have entered the gold market in recent days as investors take advantage of a decline in prices since the conflict began more than a month ago.