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21.08.202501:39:14UTC+00Gold Ticks Lower Ahead of Fed’s Jackson Hole Gathering

Gold prices dipped to approximately $3,340 per ounce on Thursday as investors brace for the Federal Reserve's three-day Jackson Hole symposium, which kicks off later today. All eyes are on Fed Chair Jerome Powell's speech for any clues regarding the central bank’s monetary policy direction. Currently, the market is pricing in an 82% likelihood of an interest rate cut in September. Nonetheless, recent Fed meeting minutes reveal ongoing concerns among policymakers about both inflation and the labor market, with a majority suggesting it is premature to reduce interest rates. On the geopolitical stage, Russia issued a cautionary message on Wednesday, indicating that efforts to tackle security issues related to Ukraine without Moscow’s participation could prove futile, as the West seeks to secure future guarantees for Kyiv's protection.

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