Gold futures on Monday logged their lowest settlement in nearly four weeks, down a sixth straight session — their longest such losing streak since early July. The “king dollar” has returned as investors “brace for a potentially hawkish speech” by Federal Reserve Chairman Jerome Powell at the Jackson Hole Symposium on Friday, said Edward Moya, senior market analyst at OANDA. “Gold will eventually settle on a trading range, but it seems the floor might be a little lower as the risks of energy and food inflation could keep the Fed remaining aggressive with rate hikes into the new year.” December gold GCZ22,
AUDUSD maintains its upward momentum
The Federal Reserve interest rate change and stabilising unemployment in Australia supported the Australian dollar. Find out more in our analysis for 19 September 2024.