Gold prices are consolidating downside. Economists at TD Securities report that the Fed’s expected repricing will drive markets, with an eye on the Jackson Hole symposium scheduled for next week.
All eyes are on Jackson Hole seminar
“Chair Powell’s speech next week may be Fed push The key pathway for the Fed is the opposite of the marked easing in financial conditions sparked by his last speech, which has seen markets cut rates immediately after the rate-hike cycle and may be at odds with the Fed’s inflation mandate.”
“Speculative appetite for precious metals should dry up further as market expectations for a rate cut fade.”
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