Gold dips ahead of Jackson Hole meeting, giving up some of its Trump gains
Bengaluru — Gold nudged lower on Thursday, giving up some of its gains made after US President Donald Trump’s threat of a government shutdown, with investors remaining focused on a major central bankers conference in Jackson Hole. Spot gold was down 0.1% at $1,287.87 an ounce at 4.10am GMT, after gaining 0.4% in the previous session. US gold futures for December delivery slipped 0.1% to $1,293.30/oz. "It’s a bit lower with lack of catalysts and people trading sideways. It’s going to be trading in a very tight range," said Richard Xu, a fund manager at China’s biggest gold exchange-traded fund, HuaAn Gold. "The market is pricing in the Federal Reserve’s actions at the Jackson Hole meeting and people are expecting some kind of tightening going on in that space. So that’s why gold is going to be under some kind of pressure." Markets were focused on an annual meeting of central bankers in Jackson Hole, Wyoming, starting on Thursday, where Federal Reserve chairwoman Janet Yellen and Euro...
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