# Gold slips after strong US data as focus turns to Powell | Reuters

> Spot gold fell 0.6% to $1,911.53 an ounce on June 27 after strong U.S. economic readings. Traders positioned ahead of Powell's speech and upcoming data that could signal future rate hikes. U.S. gold futures settled 0.5% lower at $1,923.80.

- Date: 2023-06-27 · published 2023-06-27T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/35417-gold-slips-after-strong-us-data-as-focus-turns-to-powell-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Strong U.S. data supports expectations of further Fed tightening, which lifts the dollar and weighs on non-yielding assets. The move is routine and has limited read-across to feed commodities.

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-prices-steady-softer-dollar-focus-economic-cues-2023-06-27/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.