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Gold holds near three-month high amid Jackson Hole meeting
Gold prices are heading toward stabilization after rising for five consecutive days, as investors await U.S. Federal Reserve policy indicators ahead of the Jackson Hole meeting. Although the metal slightly declined to around $4,628 per ounce, it still remains approximately 7% higher for the week, supported by the U.S. Treasury Department's interventions in the bond market and investor tendencies to contain inflation and reduce reliance on currency and sovereign debt. Data from exchange-traded funds (ETFs) also showed a substantial increase in gold investments, while the upcoming speech by the Federal Reserve Chair is expected to offer further signals about the future of monetary policy.
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