Markets analysis on
Gold prices remained relatively steady after reaching a multi-month high. Markets could stay cautious ahead of major economic data releases and the Federal Reserve’s Jackson Hole Symposium. Treasury yields stabilized after a decline yesterday, but remain at elevated levels, which could cap the upside potential for the metal, while the dollar stayed range-bound.
Investors await a key U.S. inflation report to gauge the Federal Reserve’s interest-rate path. The core PCE index is expected to accelerate to 0.2% on a monthly basis. A softer-than-expected reading could push Treasury yields down and reduce the opportunity cost of holding a non-yielding asset like gold.
The metal could continue to benefit from concerns over US debt levels as well as expectations of a Fed hold at its next meeting. However, a hike is still expected at the following meeting, which could fuel some pressure.
Looking ahead, today’s July PCE inflation data will be the main focus, while attention will turn later on to Fed Chair Kevin Warsh’s Jackson Hole speech on Friday. His tone could affect monetary policy expectations and drive gold price movements.
Zaid Barem / ymm
Türkçe
العربية
English
Deutsch
Ελληνικά
עִבְרִית
Русский
Українська
