Spot Gold trades near a record high of $2,509.80 achieved at the beginning of the week, helped by sluggish US Dollar demand.
XAU/USD Current price: $2,506.95 The Jackson Hole Symposium will host global policymakers by the end of the week. The US Dollar extends its recent slide as the optimistic mood persists on Monday. XAU/USD pressures record highs with a near-term bullish stance. XAU/USD barely surpassed its Friday’s high before retreating, but buyers added on dips, helping the bright metal to retain the $2,500 mark.
Early on Monday, Fed Bank of Minneapolis President Neel Kashkari spoke to the Wall Street Journal and said tha inflation is making progress, although the labor market is showing some concerning signs. “The balance of risks has shifted more towards labor market and away from inflation side of our dual mandate,” Kashkari added. Ahead of the event, S&P Global will release the preliminary estimates of the August Purchasing Managers Indexes .
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