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Gold gains as softer dollar, economic concerns bolster appeal (Reuters)

The dollar index was on track for a weekly fall, making gold more attractive for those holding other currencies. “Virus concerns are still weighing down on economic recovery and when you look at a lot of economic data, it looks like it’s moderating but there is still tremendous damage,” said Edward Moya, a senior market analyst at broker OANDA. “There’s still going to be need for more support.” https://www.reuters.com/article/idUSKBN2690IO

Investors vent their frustration over Fed’s balance sheet inertia (FT)

The Federal Reserve is the $7tn gorilla in the financial markets, and investors wish it was willing to throw its weight around a bit more. The US central bank showed little hesitation in wading into the market during the pandemic panic in March, and investors took comfort from knowing that the Fed and its chairman Jay Powell had their back, but they found his reluctance this week to promise more specific action quite frustrating. Equities sold off sharply during his press conference on…

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