Gold Headlines

Rouble recovers from lows, eyes on Putin and U.S. Fed

Gold dips as investors book profit, await Fed's cues

“Gold bulls will be hoping, in a way, that the stars align a bit: that Powell outlines the Fed’s pivot to inflation targeting, and expresses an openness to keep long term rates low, ideally through a new yield-curve control program.” Powell is set to address the Fed’s annual central bankers’ conference at 1310 GMT, with investors looking for cues on inflation and monetary strategy. https://www.cnbc.com/2020/08/27/risks-of-more-us-sanctions-will-boost-russias-gold-production-fitch…

Risks of further U.S. sanctions will ‘paradoxically’ boost Russia’s Gold production

Russia is expected to increase gold production more rapidly in 2020 and 2021, according to Fitch Solutions. That’s because rising risks of further U.S. sanctions would push the Russian central bank to shore up its gold reserves, the consultancy said in a report. Over the longer term, a “healthy” pipeline of new mining projects could push Russia to become the world’s largest gold producer by 2029 — overtaking China and Australia, said Fitch Solutions. https://www.cnbc.com/2020/08…

South African Stocks Rise as Gold Miners Climb Before Powell

Gold gains on stimulus bets ahead of speech by Fed's Powell

Framework review complete, Fed's Powell starts hard sell for higher inflation

Dollar edges higher, but stuck in range before Powell speech

Gold prices slide as bond yields and the dollar firm (MarketWatch)

The moves come ahead of a highly anticipate speech from Federal Reserve Chairman Jerome Powell, who is expected to provide a more accommodative signal, signaling that the U.S. central bank is willing to embark upon on unconventional way of thinking about rising inflation. Powell is expected to advocate for a so-called asymmetric inflation target, one that allows policy makers to let inflation rise above their traditional annual target of 2%, which could be seen as bullish for gold and…

Record Gold Prices: Real Yields Aren't Really Responsible (Bloomberg)

The Golden Constant Gold is still glittering. The shiny metal has reversed slightly in recent days, but its upward trend remains uninterrupted. It tends to move directly in line with real yields (those on inflation-linked bonds, or the result of subtracting the breakeven inflation forecast from the nominal yield). While gold is only just below the all-time high of more than $2,000 per ounce set earlier this month, real 10-year Treasury yields are only a little above the all-time trough of…

Global stocks steady, bonds sold as markets turn to Jackson Hole