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Gold may be seeing support from Trump tweet on meeting with Fed's Powell

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Traders and investors are taking note of a meeting Monday morning between President Trump, Treasury Secretary Mnuchin and Federal Reserve Chairman Powell. Trump tweeted that the trio discussed several matters, including easing of monetary policy, trade and the U.S. dollar. The marketplace did not know precisely how to take the meeting and most markets did not show a big reaction. The gold market did hit its daily highs not long after the news hit the wires. It could be that some traders are reading Trump's upbeat tweet on the meeting as meaning Powell may continue to lean easy on U.S. monetary policy, which should be supportive for the precious metals markets. December gold was last up $4.50 at $1,473.20. 

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