Gold consolidates in early Asian trade ahead of the Jackson Hole economic symposium later this week. Traders await any further signals that Fed rate cuts are imminent, ANZ Research analysts say in a research report.
This may happen at the symposium, where Fed Chair Powell is expected to set the scene for rate cuts as soon as September, the analysts say.
However, a stronger USD has tempered investor demand while easing geopolitical tensions have weighed on safe-haven-related buying, they add. Spot gold is little changed at $3,331.89/oz.
Source: Bloomberg
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