Gold Price Fundamental Daily Forecast – Low Volume, US GDP Report Could Be Sources of Volatility Today
Gold futures are edging higher on Thursday, bolstered by a pullback in the U.S. Dollar against a basket of major currencies. Gains are being capped, however, by steady U.S. Treasury yields.
Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole central bankers’ meeting on Friday will be the key factor in the short-term driving the price action in the gold market.
The most negative thing Powell can do for gold prices is call for the need of aggressive rate hikes to combat inflation.
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