Will gold prices lift higher after the Jackson Hole Symposium?

At the last Jackson Hole Symposium Jerome Powell expected inflation to be transitory. He also told participants that he saw little evidence of wage increases at the time that might threaten excessive inflation. It is reasonable to expect Jerome Powell to be very firm that the Fed will keep hiking interest rates in order to control rising inflation. The reaction to Powell’s comments will be crucial for the USD, bonds, and precious metals. If Jerome Powell stresses slowing growth and a Fed ready to pause rates that should send the USD lower, yields lower, and gold higher. Bear this strong pattern in gold in mind in ...