From Investing.com: 2024-08-26 04:09:00

Gold prices remained close to record highs following dovish comments by Federal Reserve Chair Jerome Powell at the Jackson Hole symposium. Powell indicated that the Fed is prepared to make adjustments to its monetary policy based on upcoming economic data, potentially leading to rate cuts. The uncertain global economic outlook and geopolitical tensions are expected to support safe-haven demand for gold. However, weak demand in China may offset these gains. Meanwhile, the Euro strengthened against the USD after Powell’s speech, with the market anticipating potential rate cuts in September. The British Pound also reached a 17-month high against the USD as the market prices in a rate cut by the Fed.



Read more at Investing.com: Gold, Euro Hover Near Record Highs After Boost From Powell’s Dovish Comments