Gold edges down on 27th August thereby rolling the table towards cautionary mode. Investors are now cautious and their main focus lays down with Jackson hole.
Precisely, Jackson Hole is a place in Wyoming where all the big financial personalities like central bankers, academic & financial market participants, finance ministers grace their presence annually and converse about the most relevant topics. Their main agenda for discussion is the economic condition which we are currently fronting.
Moving further, Investors are now careful and their complete focus lays down with central bank’s plans and policies. However, U.S. Federal Reserve Chair Jerome Powell’s speech will deliver a nod to central policies above narrowing of economic incentive.
If we look into the global market, then the spot gold made a dip of 0.1 percent and came at $1788.17 per ounce by 0316GMT.
Furthermore, looking into the last session, prices chop by 0.7 percent which was the prime one-day dip in further two weeks.
There was a bit change in Gold futures and trading at 1789.80.
On the contrary, Dollar index moved towards higher side and working great with the levels.
For now, the market is messed up which may last two days due to the meeting. Consequently, their comments and speeches may impact the market all around the world.
Traders are advised to be patient. We understand your restlessness but it is not a good time to trade beyond limits.
Try not to trade or if willing to then trade within a limited range. Additionally, Intraday or short-term traders should not hold their position on Friday.