– Gold and silver prices are modestly higher in early trading Friday, as the market event of the week, if not the month, lies just ahead: Federal Reserve Chairman Jerome Powell’s speech at the annual Kansas City Fed symposium.
The annual Fed confab being held in Jackson Hole, Wyoming late this week has seen four Fed officials on Thursday and early today say they favor tapering the central bank’s very accommodative monetary policy sooner rather than later—despite the growing concerns about the resurgence of the coronavirus and its potential impact on the U.S.
The terrorist bombings in Kabul, Afghanistan Thursday that killed over a dozen American soldiers and many more Afghans did not have a major impact on markets, but has tempered risk appetite in the marketplace late this week.
bond yields are in the rise this week, hinting that bond traders are concerned about U.S.
Technically, October gold futures bulls have the slight overall near-term technical advantage but need to show fresh power soon to keep it.
The next downside price objective for the bears is closing prices below solid support at the August low of $22.295.