• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Precious Metals Market
    Precious Metals News
    Precious Metals Stocks
    • Precious Metals Market
    • Precious Metals News
    • Precious Metals Stocks
    gold investing

    Gold Price Falls as Investors Await Interest Rate Clues from Fed

    Priscila Barrera
    Aug. 24, 2017 04:45PM PST
    Precious Metals
    Gold Investing

    Interest rates will be up for discussion at an upcoming three-day meeting of global central banks in Jackson Hole, Wyoming.

    The gold price retreated on Thursday (August 24) ahead of a global meeting of central banks in Jackson Hole, Wyoming. Investors are waiting for hints about future interest rate hikes from the US Federal Reserve.
    As of 3:00 p.m. EST, gold was trading at $1,285.92 per ounce, pressured by a firmer US dollar. That’s because a stronger greenback makes the yellow metal more expensive for investors using other currencies.
    The annual three-day Jackson Hole meeting will feature speakers from central banks around the world. On Friday (August 25), Fed Chair Janet Yellen and European Central Bank Chief Mario Draghi will discuss the outlook for monetary policy and interest rates.


    With the Fed and ECB “on the cusp of making new policy announcements, their views will be pored over for the slightest hints,” said Craig Erlam, senior market analyst at Oanda.
    “Markets don’t seem overly concerned about the Fed’s balance sheet plans so interest rate clues [are] what people will be looking for, whereas with ECB, it’s all about tapering — when will it happen, how much will it be and how long will it last,” he added.
    The Fed has increased rates twice so far this year, and another hike could impact the gold price. In general, higher interest rates increase the opportunity cost of holding non-yielding bullion.
    “The market is pricing in the Federal Reserve’s actions at the Jackson Hole meeting and people are expecting some kind of tightening going on in that space,” noted Richard Xu, a fund manager at China’s biggest gold exchange-traded fund, HuaAn Gold.
    But the gold price received some support after US President Donald Trump threatened to shut down the government if his administration does not get funding for a border wall with Mexico.
    “The price of gold appears stuck in the mud, looking for any bit of news that can get the wheels spinning again,” said Walter Pehowich, executive vice president of investment services at Dillon Gage Metals.
    Don’t forget to follow us at @INN_Resource for real-time news updates! 
    Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
    chinadonald trumpborder walltrumpinterest rategold investingjanet yellen
    The Conversation (0)

    Go Deeper

    AI Powered
    Hand holding gold bar in front of blurred building.

    Gold Price Closes in on US$3,900 as US Government Shuts Down

    Gold bear and bull fighting over bars of gold.

    Gold Price 2024 Year-End Review

    Latest News

    Canadian Investment Regulatory Organization Trade Resumption - ANK

    Angkor Resources Receives Preliminary Feedback on the First Basin of the Seismic Program with Enercam's Oil & Gas Block VIII, Cambodia

    Southern Silver Initiates Drill Program at the Puro Corazon Mine on its Cerro Las Minitas Property, Durango, Mexico

    LaFleur Minerals Provides Update on PEA for the Restart of Beacon Gold Mill Sourcing Material from Its Swanson Gold Deposit, Val d'Or, Québec

    Finlay Minerals Announces Non-Brokered Private Placement of Flow-Through and Non-Flow-Through Units

    More News

    Outlook Reports world

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Precious Metals Stocks

    Mount Hope Mining

    MHM:AU

    Walker Lane Resources

    WLR:CC

    Rua Gold

    RUA:CC

    Golconda Gold

    GG:CC

    Falco Resources

    FPC:CC

    Adavale Resources

    ADD:AU
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES