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.