Gold prices slide as bond yields and the dollar firm

Commodity investors await Powell’s Jackson Hole speech

Gold futures on Wednesday edged slightly lower, hovering around the unchanged mark, as a rise in bond yields and the U.S. dollar, both bearish factors for bullion, weighed on precious metals.

The moves come ahead of a highly anticipate speech from Federal Reserve Chairman Jerome Powell, who is expected to provide a more accommodative signal, signaling that the U.S. central bank is willing to embark upon on unconventional way of thinking about rising inflation.

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