Gold closes up 30 cents, market participants eye Powell’s speech

Gold futures closed slightly higher on Wednesday (Aug. 24) as investors were cautious ahead of Federal Reserve Chairman Jerome Powell’s speech at the Fed’s annual meeting in Jackson Hole on Friday.

  • The gold futures were up 30 cents, or 0.02%, at $1,761.5 per ounce.
  • Silver was down 11.9 cents, or 0.63%, at $18.907 an ounce.
  • The platinum contract was down $9.6, or 1.1%, at $866.8 an ounce.
  • The palladium contract was up $52.70, or 2.7%, at $2,025.60 an ounce.

Investors are watching the Fed’s annual meeting in Jackson Hole, Wyoming, which begins today (Aug. 25) and ends Aug. 27. The Fed is expected to give clear signals about the direction of U.S. economic interest rates, including balance sheet reduction (QT).

The theme for this annual meeting is “Reassessing Constraints on the Economy and Policy”.

The Spot Market is Open

Thursday, August 25, 2022

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
11.30
1,756.10
1,757.10
+4.60
+0.26%
1,750.30
1,758.70
Silver
11.30
19.25
19.35
+0.14
+0.76%
19.09
19.36
Platinum
11.30
881.00
891.00
+6.00
+0.69%
873.00
892.00
Palladium
11.30
1,984.00
2,134.00
+20.00
+1.02%
1,863.00
2,140.00
Rhodium
05.00
12,500.00
14,500.00
0.00
0.00%
13,500.00
14,500.00

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