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Commodities

Gold Rises Amid Anticipation of US Inflation Data and Jackson Hole Symposium

Guavy AI Editorial Team
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Gold
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Gold prices have slightly increased on Wednesday ahead of the release of US inflation data. This comes as investors await the Jackson Hole symposium, where Federal Reserve Chair Kevin Warsh is set to speak.

The CME FedWatch Tool suggests that there's a 61% chance that interest rates will remain unchanged next month. Investors are also looking at July's core Personal Consumption Expenditures (PCE) price index, which serves as the Federal Reserve's preferred inflation gauge.

Gold prices rose by $5.60 to reach $4700.10 per ounce for December delivery. Spot gold saw a slight increase of 0.28% to $4643.40 per ounce.

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