Gold prices rose yesterday and throughout today’s trading as of writing as investors began to be optimistic about a lower interest rate on the back of
Federal Reserve Chairman Jerome Powell on when the central bank will start cutting interest rates.
Gold has seen buyers’ strength in recent sessions as the U.S. dollar has weakened on expectations of a September interest rate cut.
With the second day of Powell’s testimony, will he reiterate his 2% inflation target?
Or will it send signals as to when the Fed will start lowering interest rates? That’s what investors will be watching during today’s hearing.
