Jackson Hole Symposium Provides Little Direction For Gold And Silver

GOLD

Gold prices are down moderately today following the much-anticipated speech by Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium. Economists expected high volatility in the markets following his speech, and while we have seen prices shift slightly, overall, it doesn’t seem that the market has reacted strongly to his comments. Powell indicated that the central bank may raise interest rates to combat stubborn inflation, but changes will remain data-dependent.

Gold is facing pressure once again as U.S. Treasury yields and the U.S. Dollar index recover from their dip earlier this week. Gold is hovering around the $1910 level in trading this morning.

At 11am PT today, Gold is trading at $1912.49 per ounce, down $5.14 from yesterday.

SILVER

Silver prices are hovering below their multi-week high seen on Wednesday, but continue to hold well over the $24 level following the news from Jackson Hole this morning.

At 11am PT today, Silver is trading at $24.22 per ounce, up $0.07.