Jerome Powell's dovish tone brings on gains in Gold

Amala Balakrishner
Amala Balakrishner8/30/2021 01:47 PM GMT+08  • 3 min read
Jerome Powell's dovish tone brings on gains in Gold
The announcement on the gradual withdrawal of the central bank’s economic stimulus has already evoked a response from investors.
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Federal Reserve chair Jerome Powell’s announcement on the gradual withdrawal of the central bank’s economic stimulus has already evoked a response from investors.

Wall Street rebounded from losses while European stocks rose after a quiet day on Aug 27 post Powell’s much-anticipated speech at the Jackson Hole central banking symposium.

Meanwhile, gold prices jumped by 1.35% while that for silver was up by 2.17% in Asia, Avtar Sandu, a commodities analyst at Phillip Futures writes in an Aug 30 note.

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