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MCX gold trend positive on weak Indian Rupee; US Fed Chair Powell’s speech at Jackson Hole Symposium eyed

By Bhavik Patel Gold’s next trigger would come after the Kansas City Federal Reserve hosts one of the most important economic symposium in Jackson Hole and today’s keynote speech by Chairman Jerome Powell will garner the most attention. Compared to the last 3-4 years, this year’s symposium occurs at a critical time as the Federal Reserve began an aggressive tightening of its monetary policy. Market is confused right now which way Powell will drift, hawkish or dovish. Chairman Powell will continue to walk an extremely thin tightrope between the current economic contraction and the current level of inflation. Important thing …

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