Gold Steadies as Investors Turn Their Focus to Fed Minutes
- Minutes, Jackson Hole may offer clues on tapering timeline
- Bullion prices may be stalled in front of $1,800: HSBC’s Steel
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Gold steadied as investors stayed on the sidelines before the release of minutes from the Federal Reserve’s latest policy meeting.
Traders are turning their focus to the Fed minutes due Wednesday afternoon and next week’s Jackson Hole symposium, which may offer clues on the timing of the central bank’s tapering. In a town hall meeting Tuesday, Fed Chair Jerome Powell flagged that the pandemic is “still casting a shadow on economic activity,” but didn’t discuss the outlook for monetary policy or make specific comments on growth and the risks from the delta variant.