Gold prices move lower on Tuesday, easing back after posting back-to-back session gains.
Moves in the U.S. dollar and Treasury yields continued to influence prices for the precious metal as investors await Friday’s speech by Federal Reserve Chairman Jerome Powell at the Jackson Hole, Wyo., economic policy symposium.
Analysts noted that gold prices are showing signs of stabilizing ahead of Federal Reserve Chairman Jerome Powell’s speech in Jackson Hole later this week. “Subsequent economic data on the U.S. job market and on inflation could determine the next steps in monetary policy and could affect gold’s performance,” he said.
Meanwhile, although Treasury yields slipped from 16-year highs on Tuesday, they remained near their highest levels since 2007.
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