- Gold price trades sideways as investors shift focus to the speech from Fed Powell at Jackson Hole.
- The market mood remains jittery as to whether Jerome Powell will deliver hawkish interest rate guidance or favor a neutral policy.
- Business spending on capital goods rose by 0.1% in July, swinging from a contraction of 0.4% recorded for June.
Gold price (XAU/USD) demonstrates a rangebound performance as investors await Federal Reserve (Fed) Chair Jerome Powell’s speech at the Jackson Hole Symposium for further guidance. The precious metal is expected to remain on tenterhooks as the market mood remains uncertain as to whether Jerome Powell will deliver hawkish interest rate guidance or discuss the benefits of keeping interest rates unchanged for a longer period. Market participants would also like to know how much longer the Fed will keep interest rates elevated.
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