image credit: Pixabay

Gold falls in volatile trading as investors digest Powell’s Jackson Hole speech

August 27, 2020

Gold futures moved lower Thursday in volatile trading that saw prices move in either direction by as much as 2%.

Federal Reserve Chairman Jerome Powell announced changes to the central bank’s policy framework in a speech at the Jackson Hole economic symposium that were perceived as offering a more accommodative monetary policy and bullish for bullion buyers in the long run. However, the policy change was largely expected and analysts said some investors resorted to profit taking in the wake of the speech.

Read More on Market Watch