EBC Markets Briefing Bullion meanders after Powell’s dovish remarks

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Bullion meanders after Powell’s dovish remarks | EBC Markets Briefing • Gold hovered around its all-time peak hit last week on Monday, fuelled by fund inflows and rate cut optimism. Powell’s dovish tone delivered in Jackson Hole boosted hope for sizable loosening. • Geopolitical tensions still lingered. The top US general began an unannounced visit to the Middle East on Saturday to discuss ways to avoid any new escalation in tensions that could spiral into a broader conflict. • But Hezbollah launched hundreds of rockets and drones at Israel on Sunday, as Israel's military said it struck Lebanon with around 100 jets to thwart a larger attack, in one of the biggest clashes in border warfare. • Holdings of physically backed gold ETFs have risen by more than 90 tonnes since May, according to data from the WGC. Net inflows were positive in seven of the past eight weeks. • The metal’s latest push from about $2,300 in June to new heights appears to have been driven by US and European buyers positioning for lower borrowing costs after China’s demand waned. • Gold investor sentiment looks set for the upside in the three to six months window, Citi analysts said in a note, predicting a $3,000 target by the middle of 2025, and a Q4 average price forecast of $2,550. • Bullion managed to stay above $2500, signalling that bullishness is alive. It will likely head towards the record high and 50 EMA could put a floor under its price in case of a pullback. • Gold hovered around its all-time peak hit last week on Monday, fuelled by fund inflows and rate cut optimism. Powell’s dovish tone delivered in Jackson Hole boosted hope for sizable loosening. • In today’s video, we dive into the latest movements in the bullion market following Federal Reserve Chair Jerome Powell's recent dovish remarks. Powell’s comments have had a significant impact on gold and silver prices, causing unexpected fluctuations in the bullion markets. We’ll explore how his statements about potential future policy adjustments and economic outlook are influencing investor behavior and market dynamics. • Powell’s dovish tone, which typically implies a more cautious approach to tightening monetary policy, has stirred up uncertainty in the bullion sector. Investors often turn to gold and silver as safe-haven assets during periods of economic uncertainty or when they anticipate changes in interest rates. In this video, we break down the key aspects of Powell’s speech and analyze how his comments have contributed to the recent price movements of these precious metals. • We’ll also provide insights into what this means for traders and investors, and offer predictions on how the market might evolve in response to ongoing economic developments. Whether you’re a seasoned investor or just curious about the bullion market, this video will give you a comprehensive understanding of the current trends and factors driving price changes. • Don’t forget to like, subscribe, and hit the notification bell to stay updated with the latest market analysis and financial news from EBC Markets. Share your thoughts in the comments below—how do you think Powell’s remarks will affect the bullion market in the long run? • SUBSCRIBE NOW to EBC Financial Group YouTube Video Channel • / @ebcfinancialgroup • • Follow Us • Facebook ► ebcgroupglobal • Instagram ► ebc.global • Twitter ► ebcgroup_global • LinkedIn ► ebcgroup • #bullion #gold #silver #powell #federalreserve #marketanalysis #EBCMarkets #investing #finance #economicoutlook #preciousmetals #goldprices #silverprices #DovishRemarks #ebc #investment #inflation #economy #jackson #powell #investor

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