CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : : 26 August 2019
Precious Metals Preview: Gold prices jumped to a fresh six-year high on Monday
Last week, spot gold prices dipped lower by 1.2 percent. Markets seemed to move towards riskier assets as the U.S. Treasury yield curve no longer pointed towards an evident recession. Correction in the treasury yield supported the U.S. Dollar and weighed on the yellow metal prices.
Spot gold prices were further pressurized after the minutes of the U.S. Federal Reserve stated that the policymakers were not on the path for any further interest rate easing. However, the markets will have a keen eye on the Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole seminar for hints on the further rate cuts.
Moreover, easing of the prolonged trade tension between U.S. & China boosted the risk appetite amongst investors and dented the appeal for the safe-haven asset.
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