Fed Chairman Powell’s opening speech in Jackson Hole could ‘re-energize’ gold price action: TD Securities


Editor’s Note: In minutes, discover our quick summary of the must-see news and expert opinions that have moved precious metals and financial markets. Register here!(Kitco News) All eyes are on Federal Reserve Chairman Jerome Powell’s opening speech Thursday at the Jackson Hole Virtual Symposium, according to TD Securities strategists. “We expect the Fed chairman to actually announce in advance the outcome of the revised monetary policy framework, which suggests the formal adoption of medium inflation targeting,” the strategists write. In response, gold and silver could see new buying interest entering space. “Precious metals could find support in a change in forecast to make it clear that the Fed wants inflation to exceed the 2% target as a catch-up strategy. Although such an announcement is by no means a revolutionary surprise, the effects of such a policy may not yet be fully assessed … The official announcement could also re-energize the flows of precious metals, which slowed considerably afterwards. hindsight. Silver remains TD’s precious metals favorite due to its “clean positioning, growing industrial demand, resilient investment demand, and inventory constraints.”

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