Untitled Document The expression calm or quiet before the storm is precisely what market participants witnessed today in gold futures. Gold futures are roughly at the same price they were yesterday after surging $20 higher. Compared to yesterday, the range from high to low in December gold futures contracted by half. Gold futures traded to a low of $1939.20, and a high of $1951.30 and is currently fixed at $1944.70 after factoring in today’s decline of $3.40.
Today market participants for the most part remained inactive as they brace for tomorrow’s morning speech by Chairman Powell at the Federal Reserve’s annual Jackson Hole economic policy symposium began today and will conclude this Saturday. However, the pinnacle of this annual conference will occur when Chairman Jerome Powell takes the podium.