Gold Headlines

Currencies rally after Fed shift

Japan’s longest-serving prime minister, Shinzo Abe, confirms resignation over health concerns

Abenomics fails to deliver as Japan braces for post-Abe era

Global stocks struggle after Fed shift, Japanese markets shaken as Abe resigns

Stock markets struggled for direction on Friday as investors worried about a lack of detail in the U.S. Federal Reserve’s policy shift while Japanese markets were roiled as Prime Minister Shinzo Abe resigned for health reasons. Gold prices bounced 1%, with the spot price at $1,949 an ounce. The precious metal tends to perform well when the dollar is weak and the U.S. central bank sends a dovish message on the future path of interest rates. https://www.reuters.com/article/us-global…

Gold falls in volatile trading as investors digests Powell’s Jackson Hole speech

Gold dives 2% as dollar, yields gain after Fed comments

The Fed saying it will allow modest overshoot in inflation is very positive for gold, said Daniel Ghali, commodity strategist at TD Securities, “But the market already anticipated that so there is no new impetus to buy gold.” The U.S. central bank rolled out an aggressive new strategy to lift employment and will seek to achieve inflation averaging 2% over time, offsetting below-2% periods with higher inflation “for some time.” Weighing on bullion, the U.S. dollar gained against key…

Ghana’s Main Opposition Will Stop Gold Fund If It Wins Vote

S&P 500 gives up earlier gains

Fed adopts average inflation target, elevates focus on jobs

Powell announces new Fed approach to inflation that could keep rates lower for longer (CNBC)

Fed Chairman Jerome Powell announced a major policy shift Thursday to “average inflation targeting.” That means the central bank will be more inclined to allow inflation to run higher than the standard 2% target before hiking interest rates. In addition to the inflation change, the Fed changed its approach to employment in a way that will focus on those at the lower end of the income spectrum. https://www.cnbc.com/2020/08/27/powell-announces-new-fed-approach-to-inflation-that…