#goldrisesabout14%inaugust Spot gold holds near $4,650/oz after 14% August rise as Jackson Hole looms
Spot gold was last at $4,650/oz, up 14% in August, about 7% year-to-date and around 7% last week, after briefly touching $4,700/oz. The rally has been supported by falling U.S. Treasury yields and a softer dollar as investors focus on inflation risks and concerns about dollar debasement with U.S. government debt above $40 trillion and the fiscal deficit still high. Markets are watching the Jackson Hole symposium from August 27–29, with particular attention on Fed Chair Kevin Warsh’s speech on Friday.$XAUT $GWEI $HEI
Spot gold was last at $4,650/oz, up 14% in August, about 7% year-to-date and around 7% last week, after briefly touching $4,700/oz. The rally has been supported by falling U.S. Treasury yields and a softer dollar as investors focus on inflation risks and concerns about dollar debasement with U.S. government debt above $40 trillion and the fiscal deficit still high. Markets are watching the Jackson Hole symposium from August 27–29, with particular attention on Fed Chair Kevin Warsh’s speech on Friday.$XAUT $GWEI $HEI