Week ahead commodity report: Gold and silver price forecast – Where are prices heading next? [Video]
|Gold prices rose 0.7% on Monday as risk sentiment improved after the U.S. drug regulator authorised the use of blood plasma from recovered COVID-19 patients as a treatment option, while the dollar fell 0.3%.
Investors are now waiting for U.S. Federal Reserve Chairman Jerome Powell's speech at Jackson Hole on Thursday for any hints about how aggressively the central bank will try to manage the long-term recovery from the coronavirus pandemic.
The US central bank may reiterate its pledge for ultra-low rates, providing support for gold.
Lower US interest rates put pressure on the dollar, increasing the appeal of bullion.
Central banks around the world have rolled out massive stimulus measures to mitigate the economic damage caused by the virus outbreak, which has infected more than 23.31 million people worldwide so far.
Where are prices heading next? Watch The Gold & Silver Club Commodity Report now with Phil Carr for the latest price forecasts and predictions:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.