However,
Gold stabilizes before jackson hole:
Gold remained stable on Tuesday. For example, while investors are waiting for the Jackson Hole symposium from the federal reserve later this week to obtain indications on possible rate drops, while assessing Washington’s efforts to end the war in Ukraine.
The cash price in cash increased by 0.2 % to reach $ 3.337.06 per 4h11 GMT. Furthermore, U.S. Nevertheless, -term gold contracts for delivery in December gained 0.1 % to $ 3.380.70.
The declarations of the president of the Fed. Nevertheless, Jerome Powell, during the Jackson Hole symposium, scheduled for August 21 to 23, could offer better visibility on the economic prospects of the Central Bank and its framework of monetary policy.
“Gold remains in the consolidation phase and truly awaits a new catalyst to cross a level. I think the big event to watch is Jackson Hole. see if the Fed gold stabilizes before jackson hole adopts an accommodating or not orientation, “said Kyle Rodda, analyst of financial markets at Capital.com.
Market players currently estimate at 84 % the probability of a drop in rate of 25 basic points at the next Fed meeting. according to the CME Fedwatch tool.
Gold generally tends to behave well in a low interest rate environment and during increased uncertainty.
The report of the Fed’s July meeting. the publication of which is expected on Wednesday, should provide additional indications on its policy.
On Monday. American President Donald Trump assured his Ukrainian counterpart Volodymyr Zelenskiy that Washington would help guarantee the security of Ukraine as part of any potential agreement aimed at ending the war waged by Russia.
Trump described his meeting with Zelenskiy as “very good”. said on social networks that he called Russian President Vladimir Putin and started to organize a meeting between Putin and Zelenskiy.
Trump welcomed Zelenskiy. gold stabilizes before jackson hole a group of European allies a few days after meeting Putin in Alaska, a meeting that ended without agreement.
UBS noted its price goal for gold at the end of March 2026 from $ 100, at $ 3,600. This decision is based on the persistence of American macroeconomic risks. the decline in the use of the dollar and a high demand for investment.
Elsewhere, cash in cash fell 0.2 % to $ 37.93 per ounce, the plate increased by 0.4 % to $ 1.328.20 and palladium lost 0.9 % to $ 1.112.50.
(Report from Anmol Choubey to Bengaluru; edition by Sumana Nandy, Rashmi Aich and Subhranshu Sahu)
Gold stabilizes before jackson hole
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