Forex
Gold Prices Edged Higher Amid Dollar Weakening
Gold prices have inched up on Wednesday as investors anticipate US inflation data and Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium this week.
The dollar has weakened, contributing to gold's slight gain. Traders are pricing a 61% chance that the Federal Reserve will keep interest rates unchanged next month, according to the CME FedWatch Tool.
Investors are eagerly awaiting July's core Personal Consumption Expenditures (PCE) price index, the Fed's preferred inflation gauge, due later today for further clues on monetary policy.
The precious metals market has seen gold (December delivery) rise to $4700.10, with a 5.60 increase and a 0.12% change. Spot gold is at $4643.40, down by 13.18 with a 0.28% change.