To say the past trading week for gold was uneventful would be an understatement. The yellow metal traded in a very tight range as the bulls continue to try to find reasons to buy.
Two of the most highly anticipated economic news events for the month have now come and gone, and markets are still trying to make up their minds regarding the potential implications…
This past week the gold market saw another relatively tight trading range. The market is seemingly being held hostage right now by changing interest rate expectations.
Last week, the highly anticipated Federal Reserve symposium from Jackson Hole, Wyoming, drove a large degree of volatility in gold and other markets on Friday.
After a relatively quiet week from a data perspective, investors are left pondering whether or not the Fed will raise interest rates again in September or December.
The gold market was fairly subdued last week, in a trend that could continue for the next couple weeks until summer’s end. Gold spent last week in a little more than a $20 trading range, as low summer trading volumes may cause markets to drift.