Gold Surges, Dollar Declines after Fed Chair’s Speech

gold surges dollar declines after fed chairs speech
Gold Surges, Dollar Declines after Fed Chair’s Speech

Gold (GLD) is poised to post its first weekly gain in seven weeks on the back of a weakness in the US dollar (UUP). In his much-anticipated speech at the annual meeting of central bankers in Jackson Hole, Wyoming, Fed chair Jerome Powell said the Fed is committed to continuing to gradually raise interest rates (TLT) since the US (SPY) (IVV) economy remains strong. The US dollar was already under pressure on August 23 after political uncertainty increased with the legal troubles of President Trump’s former campaign manager and former attorney.

Read on The Source

Author: HEDGE

Hedge Accordingly was founded ahead of the global financial crisis in January of 2008, with the goal of providing our readers our unique take on latest news on stocks, wall street, volatility, news on wall street, articles on investing, trading, options, stocks, futures, #cnbc, #crudeoil, Bitcoin. Hedge Accordingly produces both original, and aggregated Wallst news content from top publishers around the world. We curate aggregated content covering the latest news on politics, stocks, wall street, and the tech industry. We also provide free stock charting, quotes and a bitcoin, forex and currency exchange. Learn More About