Gold Price Rally Slows Ahead of US Inflation Data, Fed Speech to Be Key
Gold prices have slowed down ahead of US inflation data releases this week. Spot gold rose by 0.6% to $4,618.93 per ounce on August 27, while U.S. gold futures rose 0.4% to $4,673.60.
The price rise for gold has been significant, with a gain of about 14% for August, but it has lost some force in recent days. The next clear market signal may come from Federal Reserve Chair Kevin Warsh at the annual Jackson Hole symposium on Friday.
A hawkish message from Warsh could lift Treasury yields and the US dollar, putting more pressure on gold. A softer message could lower rate fears and give bullion room to retest $4,700.