Forex
Gold Prices Plummet After Hawkish Jackson Hole Speech
Gold prices experienced sharp volatility last week as Federal Reserve Chair Kevin Warsh's hawkish speech at Jackson Hole dominated market attention.
The precious metal reached a weekly high of $4,730.90 before retreating to close at the low of $4,454.08, resulting in a trading range of $276.82.
Dorex CEO John Kochanski noted that gold's sensitivity to changes in monetary-policy expectations remains a key factor in its price action.
The correction should be viewed in the context of gold's broader performance, with prices trading above $4,700 earlier in the week as investors responded to persistent inflation and uncertainty over long-term Treasury yields.