Investors Await Fed Rate Decision and Kevin Warsh Speech
The Federal Reserve is expected to leave rates unchanged; its decision is due at 11:30 p.m. IST on Wednesday.
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The Federal Reserve is expected to leave rates unchanged; its decision is due at 11:30 p.m. IST on Wednesday.
Silver edged higher above $68 an ounce Thursday ahead of Federal Reserve Chair Kevin Warsh’s Jackson Hole speech. Hotter-than-expected US inflation and global debt concerns underpin demand; PCE rose 3.7% y/y in July.
The dollar index traded above 99 on Thursday after stronger-than-expected US economic data. The July PCE price index rose 0.2% m/m and annual inflation climbed to 3.7%.
Gold rose to around $4,620 an ounce on Thursday, recovering prior losses as investors weighed US PCE inflation above the Fed target and awaited Fed Chair Kevin Warsh’s Jackson Hole speech.
The dollar index held steady near 99 as investors awaited the latest US PCE price index report, with focus also on Fed Chair Kevin Warsh’s Jackson Hole speech and broader rate-inflation implications.
Silver trades below $68.0 an ounce after a two-month high of $70.0 last week, as markets await US inflation data and Fed Chair Kevin Warsh’s Jackson Hole speech.