Gold Rises After Fed Official Plays Down Rate Hike Prospects

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Gold last traded at $1,780 an ounce. Silver at $24.06 an ounce.

NEWS SUMMARY: Precious metal prices steadied Thursday following recent inflation-related gains. U.S. stocks traded mixed despite mostly upbeat third quarter corporate earning reports.

ahooFinance--"Gold rose for a second day following commentary from a Federal Reserve official that played down the possibility of imminent rate hikes.

Governor Christopher Waller said Tuesday the Fed should begin tapering its bond-buying program next month, though interest-rate increases are probably 'still some time off.'

Upcoming speeches and discussions by officials including Randal Quarles, Mary Daly and Chair Jerome Powell will also be keenly watched ahead of the central bank's meeting next month.

Bullion has fluctuated recently as traders attempt to gauge the pace at which pandemic-era stimulus will be reined in by central banks.

Ongoing inflation, driven by high energy prices and snarled supply chains has sparked concerns rate hikes could come sooner than expected...Governor Waller said that if inflation remains above 2% well into 2022 he would favor an earlier liftoff."