Gold prices rebounded today, Wednesday, below the $1800 level, after yesterday’s session consolidated with the dollar’s decline.
And by 07:30 am GMT, gold fell in spot trading by 0.54%, to record an ounce of $ 1793.10.
Gold fell in futures trading in the United States, by 0.73%, to record 1795.30 dollars an ounce.
And gold consolidated above the $1800 level yesterday, as some investors are betting that an increase in COVID-19 infections may prompt the Federal Reserve to refrain from announcing its intention to reduce its support for the economy, during its seminar in Jackson Hole.
As data showed, business activity growth slowed in the United States in August.
Jerome Powell’s Speech
Investors are now focused on a scheduled speech by Federal Reserve Chairman Jerome Powell at the annual Jackson Hole Symposium, as they await any indications of the US central bank’s plans to scale back stimulus.
As for the other precious metals, all fell, as silver lost 0.65%, to $ 23.70 an ounce, and platinum fell 1.84%, to $ 991.50 an ounce, and palladium fell by 1.8 percent, to $ 2430.
Source – Attaqa