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Gold Price Today: Rates Fall Ahead of Jerome Powell's Jackson Hole Speech; Experts Highlight Key MCX Levels to Watch
Investors anticipate Powell's speech amid 85% odds of a September rate cut as recent data and Fed minutes fuel speculation on monetary policy shifts.
- On August 22nd, Federal Reserve Chair Jerome Powell will speak at 10 a.m. ET, while futures fell 0.1% as investors await his Jackson Hole Economic Symposium remarks.
- Traders have pushed the odds of a September cut to 85%, while Federal Open Market Committee minutes from July 29-30 published Aug 20 showed two dissenters, the first such split since 1993.
- The S&P 500's 60% return since Jackson Hole three years ago contrasts with July Producer Price Index inflation risks, so Jerome Powell may avoid clear rate-cut signals.
- Following Powell's remarks, markets could see volatility as Hot Chips 2025 conference presentations and NVIDIA's report near, while Friday's speech may pave way for a quarter-point FOMC ease affecting the remainder of 2025.
- IPO activity may accelerate, with potential listings such as SpaceX, OpenAI, and Anthropic poised to go public, while the One Big, Beautiful Bill Act's full-expensing provision may boost capex and US GDP, though the 18.6% US effective tariff rate could complicate PMI readings.
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Bitcoin dips ahead of Fed chair’s remarks at Jackson Hole
Crypto investors are holding their breath before Jerome Powell, chair of the Federal Reserve, speaks Friday in Jackson Hole, Wyo. Bitcoin has dipped about 1% over the past 24 hours and almost 5% over the past week to around $112,000, according to data from Binance. Ethereum, the world’s second largest cryptocurrency, is also down 2% over the past day to now $4,240, per Binance. The pullback of the two largest cryptocurrencies tracks with a broad…
·New York, United States
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ASX 200 LIVE: Australian shares to slip at the open, Guzman Y Gomez, Monash IVF to report, Jerome Powell’s speech awaited
Australian shares are set to open modestly lower; Guzman Y Gomez, Monash IVF to report; S&P 500 extends losses; bitcoin tumbles anew. Follow live.
·Sydney, Australia
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Coverage Details
Total News Sources26
Leaning Left2Leaning Right2Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
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