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Home / Capital / Gold

Jerome Powell's dovish tone brings on gains in Gold

Gold

Jerome Powell's dovish tone brings on gains in Gold

Amala Balakrishner Published on Mon, Aug 30, 2021 / 1:47 PM GMT+8

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.