Fed Chair Powell’s Jackson Hole Speech Could Jolt Markets
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Gold was little changed as traders weighed US-led efforts to end the war in Ukraine, and counted down to the Federal Reserve’s annual Jackson Hole gathering, which may yield hints on possible rate cuts.
The markets expect a rate cut in September and all eyes will be on Fed Chair Jay Powell Friday at Jackson Hole. Click here to read what investors need to know.
Gold prices edged higher on Tuesday, buoyed by a weaker dollar amid prospects of lower U.S. interest rates, while investors looked ahead to the Federal Reserve chair's speech at Jackson Hole later this week.
There's a note of caution seeping into crypto markets, with bitcoin (BTC) sliding under $115,000 and ether (ETH) falling to $4,220 ahead of Fed Chairman Jerome Powell's speech at the Jackson Hole Symposium later this week.