Gold Plunges After Warsh Signals Fed Still Has Work to Do on Inflation
10 Articles
10 Articles
Gold Plunges After Warsh Signals Fed Still Has Work to Do on Inflation
Gold steadied near record territory early Friday. Traders braced for clues from the new Federal Reserve chairman. Then Kevin Warsh spoke at Jackson Hole. The metal dropped fast. Spot prices swung from above $4,626 an ounce just before the address to as low as $4,554 minutes after. They fixed around $4,560 in London. That erased the week’s modest gain and trimmed August’s blistering rally. BullionVault captured the violence of the move. A $70 sli…
Jackson Hole's Price Stability Message And The Threat To Equities
This article was written by Follow I have been managing investments for over eight years in capital markets. By qualification I am a CFA Charter holder. I primarily look for discrepancies between the price and value of a security. With a focus on first-principal mindset, I try breaking down ideas into their core- most tangible [...] The post Jackson Hole’s Price Stability Message And The Threat To Equities appeared first on The Business Times.
Economy - Hawkish messages from Federal Reserve Chairman Kevin Warsh at the Jackson Hole meeting caused a sharp drop in gold prices. On Friday, an ounce of gold fell by $150.70, ending a three-week winning streak.
Federal Reserve Chairman Kevin Warsh reaffirmed his intention to take decisive action against inflation in his speech in Jackson Hole, to which markets responded immediately and sharply. Two-year U.S. Treasury yields jumped 12 basis points, and traders are already pricing in a majority chance of a September rate hike, Bloomberg reported.
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