1 Day
Source:
مباشر
Gold Gains as Dollar Slips Ahead of Yellen
Gold prices rose today due to the decline of the dollar, as markets await the Federal Reserve Chairman's remarks at the Jackson Hole symposium tomorrow for signals about the future trajectory of monetary policy. Spot gold prices increased by 0.4% to $1,460.90 per ounce after hitting their lowest level in a week yesterday. Additionally, December futures contracts for U.S. gold rose by 0.2% to $1,664.00. The support for gold is attributed to the erosion of the dollar’s purchasing power and expectations of a change in monetary policy, with investors closely watching Waller’s speech, which may clarify plans for inflation control and the role of the bond market. Despite rising interest rates reducing its appeal, gold remains a safe haven hedge against geopolitical and economic risks.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)