Gold posts biggest gain in 4 weeks awaiting key signal from Jackson Hole

Gold posts biggest gain in 4 weeks awaiting key signal from Jackson Hole

He gold shines this Wednesday, August 23 and scores its biggest rise in four weeks, supported by the decline in the yield on US treasury bondsas investors prepare to hear the arguments of the monetary policy authorities at the symposium of jackson hole.

He gold cash gains 1.1% and stands at u$s1,918.82 an ounce, advancing for the third consecutive session, while the gold futures in the United States they improved by 1.2%, to u$s1,948.05.

Gold: investors watch out for Powell’s word at Jackson Hole meeting

Investors are waiting attentively for the word of the president of the Federal Reserve Jerome Powell at the symposium of jackson hole awaiting monetary policy signals from the US central bank.

“Everything revolves around jackson hole. I think the operators want to hear what the company has to say. Federal Reserve and they don’t want to be caught off guard,” said Craig ErlamOANDA analyst.

“The trading action of the past two days underscores the market’s resistance to over-committing one way or the other ahead of the event,” he added.

Gold shines on falling US Treasury yields

He 10 year bond yield It was off Tuesday’s nearly 16-year high, giving a breather to the gold metal, which hit a five-month low last week.

In this way, the 10 year note it falls 2.7% this Wednesday to 4,212 units.

Also, the euro falls after data showing that the drop in business activity in Europe worsened much more than expected, sending euro-traded gold to two-week highs.

On the other hand, the US Purchasing Managers’ Index (PMI) for S&P Global It will be published this Wednesday.

In other precious metals, the silver cash earns 3.9%, at $24.36 an ounce; he platinum add 1.5%, au$s938.80; and the palladium rises 1.3%, to u$s1,281.50.

Source: Ambito

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