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Gold settles ahead of Yelen and Draghi at the Jackson Hole Conference
Gold prices remained flat on Friday as investors awaited the words of Federal Reserve Chairman Janet Yellen and ECB President Mario Draghi at a meeting of central bank officials in Jackson Hole, United States.
By 0650 GMT there was little change in the spot gold price to settle at $ 1286.65 an ounce, after dropping 0.3 percent in the previous session.
Gold settled in US December delivery contracts at $ 1291.80 an ounce.
While it is not expected to send new messages on monetary policy, investors are looking for signs of monetary policy and interest rates.
Gold is heavily affected by higher interest rates, which increase the cost of lost opportunities for non-yielding metal holders while the dollar strengthens.
Market traders said rising geopolitical fears also prevented gold prices from falling too much.
Yellow metal is often used as an alternative investment tool in times of political and financial turmoil.
Among other precious metals, silver rose 0.3 percent to $ 16.97 an ounce, while platinum fell 0.1 percent to $ 977.50 an ounce.
Palladium rose 0.2 percent to $ 933.50 an ounce, adding 1.2 percent since the beginning of the week.
https://www.iraqakhbar.com/business-news/382216/%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D9%8A%D8%B3%D8%AA%D9%82%D8%B1-%D9%82%D8%A8%D9%84-%D9%83%D9%84%D9%85%D8%AA%D9%8A-%D9%8A%D9%84%D9%8A%D9%86-%D9%88%D8%AF%D8%B1%D8%A7%D8%AC%D9%8A-%D9%81%D9%8A-%D9%85%D8%A4
Gold prices remained flat on Friday as investors awaited the words of Federal Reserve Chairman Janet Yellen and ECB President Mario Draghi at a meeting of central bank officials in Jackson Hole, United States.
By 0650 GMT there was little change in the spot gold price to settle at $ 1286.65 an ounce, after dropping 0.3 percent in the previous session.
Gold settled in US December delivery contracts at $ 1291.80 an ounce.
While it is not expected to send new messages on monetary policy, investors are looking for signs of monetary policy and interest rates.
Gold is heavily affected by higher interest rates, which increase the cost of lost opportunities for non-yielding metal holders while the dollar strengthens.
Market traders said rising geopolitical fears also prevented gold prices from falling too much.
Yellow metal is often used as an alternative investment tool in times of political and financial turmoil.
Among other precious metals, silver rose 0.3 percent to $ 16.97 an ounce, while platinum fell 0.1 percent to $ 977.50 an ounce.
Palladium rose 0.2 percent to $ 933.50 an ounce, adding 1.2 percent since the beginning of the week.
https://www.iraqakhbar.com/business-news/382216/%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D9%8A%D8%B3%D8%AA%D9%82%D8%B1-%D9%82%D8%A8%D9%84-%D9%83%D9%84%D9%85%D8%AA%D9%8A-%D9%8A%D9%84%D9%8A%D9%86-%D9%88%D8%AF%D8%B1%D8%A7%D8%AC%D9%8A-%D9%81%D9%8A-%D9%85%D8%A4
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