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Gold clings to two-week highs as US Dollar stabilizes
Gold (XAU/USD) kicks off the week on a softer footing after touching a two-week high on Friday, following Federal Reserve (Fed) Chair Jerome Powell’s dovish remarks at the Jackson Hole Symposium that fueled a broad rally in precious metals. At the time of writing, the metal is trimming earlier losses and edging higher during the American session, consolidating near recent peaks around $3,373. Powell gave his final annual speech at the Jackson Hole Symposium last Friday, where he emphasized the Fed’s cautious approach to monetary policy in a shifting economic environment. “The stability of the unemployment rate ... (full story)
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