Gold Headlines

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…

U.S. weekly jobless claims stuck at one million; corporate profits fall further in second quarter

Powell expected to begin laying out Fed's new monetary policy approach

Investors price for Fed chair to signal inflation can run higher

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…