Price pressure on gold, silver amid hawkish Fed, bearish charts

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Global stock markets were mostly lower overnight. U.S. stock indexes are pointed toward lower openings when the New York day session begins. Trader and investor risk appetite is still dented Monday, in the aftermath of the Federal Reserve’s highly anticipated Jackson Hole annual symposium that ended late last week. Fed Chairman Powell in a speech at the confab on Friday kept on script for an aggressively hawkish U.S.

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Money markets have now pushed up ECB rate hike expectations(Kitco News) - Gold has fallen 0.81% so far on Monday after Fed Powell's speech on Friday was more hawkish than the market expected. At the Jackson Hole central banking conference in Wyoming, Powell said the Fed will raise rates as high as needed to restrict growth and would keep them there
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »