Gold prices are maintaining a strong position, with market participants cautious ahead of the upcoming FOMC minutes, which may clarify the Federal Reserve's policy outlook.
Traders are keenly awaiting Fed Chair Powell's forthcoming speech at the Jackson Hole Symposium for potential dovish remarks, which could further bolster gold prices.
Anticipation of a 25 basis point rate cut by the Federal Reserve in September contributes to lower US Treasury yields, enhancing the appeal of gold as a non-yielding asset.
Current geopolitical tensions, continuous uncertainties, and significant inflows into global gold ETFs are also fueling gold's bullish momentum as investors look for safe havens.
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