August 24, 2018

Gold is currently up $19.30 to $1,207.10—its highest level in nearly two weeks—as the dollar dropped today ahead of Powells’ Jackson Hole speech. Powell’s tone was much more dovish than previous remarks stating inflation currently isn’t a threat to our growth and called for continued gradual interest rate hikes in the coming months.  The dollar continued its decline after his remarks and is on pace for its largest weekly decline in 6 months. Silver is performing well too, up over 2% just today.