Phil Carr
The Gold & Silver Club
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:
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