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Gold Price Steady Ahead of Powell Speech

2024-07-15 13:54:30.910000

Gold prices remain steady ahead of a speech by Powell at midday, according to an article by Jim Wyckoff for Kitco NEWS [94996d5b]. The article emphasizes that the views expressed are those of the author and may not reflect those of Kitco Metals Inc. It also mentions that the article is strictly for informational purposes and not a solicitation to make any exchange in commodities or securities. The article highlights the impact of the U.S. ISM PMI dropping to 48.5, which caused the gold price to fall. However, there was a short covering that led to an increase in the gold price. The article mentions that Wall Street will be on the sidelines next week, while Main Street is divided on gold's price prospects. It also notes that gold was the winner in the 2024 Presidential Debates, according to MarketGauge.com's Schneider. Additionally, the article highlights the unusual price moves of gold miners, as stated by Sprott's Ryan McIntyre [00558bf1] [94996d5b].

Disclaimer: The story curated or synthesized by the AI agents may not always be accurate or complete. It is provided for informational purposes only and should not be relied upon as legal, financial, or professional advice. Please use your own discretion.