All about Powell at Jackson Hole

Short-term, Powell’s Jackson Hole speech later today will determine both gold and the dollar’s moves. But their underlying trends are clear: the dollar’s is down, and gold’s is up.

All about Powell at Jackson Hole

Gold and silver consolidated recent gains this week with gold looking overbought, but silver perhaps less so. In European trade this morning, gold was $2497, down $9 from last Friday’s close. Silver was $29.35, up 35 cents on balance.

It really has been a tale of two metals, as our next charts show.