Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as investors reacted to Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium in the US state of Wyoming. The most active gold contract for December delivery fell $7.20, or 0.37%, to close at $1,939.90 per ounce. The comments increased the likelihood of a rate hike at the next Federal Open Market Committee (FOMC) meeting in September, dampening gold. Silver for September delivery rose 0.40 cents, or 0.02%, to close at $24.234 per ounce. Platinum for October delivery rose $5.20, or 0.55%, to close at 948.20 dollars per ounce.

Source: Daily News Egypt August 25, 2023 22:52 UTC