Chairman of the Federal Reserve Jerome Powell made statements today that relieved some of the pressure that was brought on yesterday by Fed officials that were perceived as bearish for gold.  Although his comments did aid in gold rising in price today

Gold prices declined today as multiple officials of the Federal Reserve have suggested the possibility of additional rate hikes. This as the geopolitical risk premium that had been prominently factored into gold’s price is beginning to diminish.

After leaving interest rates alone at last week's FOMC meeting, investors are focusing on upcoming comments by multiple Federal Reserve officials this week including Chairman Powell.