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Gold futures experienced a strong gain of $18.70 today taking the most active December futures contract to $1965.60. Today’s gains are a direct result of the release of data revealing declines in the United States consumer confidence as well as job openings. This in turn led to extreme dollar weakness and a lower yield in U.S.

Recorded on Friday August 25, 2023

Gary Wagner, Editor of The Gold, recaps Jerome Powell's speech at Jackson Hole and discusses the next moves for the Fed, dollar, economy, and gold. *

This video was recorded on August 25, 2023,


“As is often the case, we are navigating by the stars under cloudy skies. At upcoming meetings, we will assess our progress based on the totality of the data and the evolving outlook and risks.

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.

Both gold and silver had significant and strong gains today reacting to longer-term treasury yields declining to their lowest levels this week. Both the 10-year and 30-year treasuries lost approximately 13 basis points.