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(Kitco News) – Gold prices are selling and hit daily lows Wednesday afternoon. The yellow metal is under pressure as Federal Reserve Chairman Jerome Powell holds his press conference after the FOMC and looks positive for the economic outlook in the United States. Regarding the outlook for inflation, Powell somewhat eased operators' worries about low inflation, which some FOMC members have expressed in the statement, in which he expressed his concern, saying the weak current inflation may be due to "transitional" factors. This statement may have pushed the US dollar index upward and removed some of the dovish tone of the traders' reading of the FOMC statement. In June, gold was down $ 6.30 an ounce to $ 1,279.60.
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