Gold prices started the new week in the US market slightly down. Last Friday, the market reacted positively to the speech of the Chairman of the US Federal Reserve (Fed) Jerome Powell at the Jackson Hole conference. Mr. Powell signaled that the Fed could cut interest rates as early as the September meeting, helping the stock market recover and putting pressure on the USD.
However, investors are still worried about the uncertainty. Inflation in the US is higher than the target of 2% and the labor market is showing signs of weakness. This has left Fed policymakers divided on the view of cutting interest rates.
The Fed chairman has "paved the way" for a rate cut in September. This decision has provided support for many assets, including gold.
However, investors are still worried about the uncertainty. Inflation in the US is higher than the target of 2% and the labor market is showing signs of weakness. This has left Fed policymakers divided on the view of cutting interest rates.
The Fed chairman has "paved the way" for a rate cut in September. This decision has provided support for many assets, including gold.
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