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Gold Pares Losses As Yellen, In Q&A, Appears to Back-Pedal On March Rate

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices are presently trading just slightly lower and have erased much of their earlier losses in early-afternoon dealings Friday. In her question-and-answer session during a speech in Chicago, Fed Chair Janet Yellen appeared to hedge a little bit on a seemingly imminent U.S. interest rate increase at this month's FOMC meeting. She told a questioner that in today's speech she really said nothing that would suggest a rate hike is going to occur in March. April gold was last down $1.40 an ounce at $1,231.00.

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