Gold prices held steady on Tuesday near the level of $3,340 per ounce, as investors awaited developments in U.S. peace efforts and the outcome of the Federal Reserve’s annual Jackson Hole Symposium.
This stability came after a meeting held Monday at the White House, where U.S. President Donald Trump confirmed that he had discussed the Ukraine issue with Russia and was working on arranging direct talks with three leaders. These moves sparked hopes of a possible peace agreement, although markets remained cautious, as traders do not expect a swift resolution to the crisis.
At the same time, investors are turning their attention to the upcoming speech by Federal Reserve Chairman Jerome Powell in Wyoming, with expectations that it may provide signals on the direction of monetary policy, particularly regarding the possibility of resuming interest rate cuts in September.
Despite the cautious sentiment, the baseline expectations still point to a single rate cut in the September meeting, followed by a limited additional easing of around 25 basis points before the end of the year.
In this context, gold continues to trade above $3,340, supported by geopolitical tensions and U.S. monetary policy expectations, reflecting the prevailing atmosphere of caution and anticipation dominating global markets.
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