Gold prices will move sideways this week, waiting for news from the Fed?

Gold prices are expected to move sideways this week, awaiting signals from the Fed.

A gold shop in western Hai Phong

On August 15, in Anchorage (Alaska), US President Donald Trump held a summit with his Russian counterpart Vladimir Putin, focusing on ending the war in Ukraine. However, to date, the two sides have not announced any agreement.

The gold market was closed ahead of the summit between the two leaders. The outcome of this meeting is likely to have a significant impact on gold price movements, mainly through geopolitical risks. Gold is known as a safe-haven asset, its price often increases when there is instability in the world.

Investors are looking for clearer signals from the US Federal Reserve (Fed) this week. A series of economic data and important events from the central bank will be the factors shaping the trend in the coming days.

The minutes of the July FOMC meeting will provide further insight into policymakers' views on inflation and the path of interest rates.

The most anticipated event of the week is Fed Chairman Jerome Powell's speech at Jackson Hole on Friday morning. The central banker will give important signals about future monetary policy.

Traders were betting on a 92% chance of the Fed cutting rates by 0.25 percentage points at its September meeting on Friday, according to data from the CME Group's FedWatch Tool.

Gold prices are in a tight range, struggling to break out despite the volatility in the market. Investors are advised to closely monitor comments from Fed officials for any clues on the direction of interest rates, but should not expect too much of a dramatic breakout from these events.

Last week, spot gold closed at $3,334 an ounce. Gold futures for September 2025 delivery on the Comex New York floor reached $3,341 an ounce.

Domestic gold market on August 16, SJC gold bar price closed at 123.5-124.5 million VND/tael (buy - sell).

The price of 1-5 chi SJC gold rings closed at 116.6-119.1 million VND/tael (buy - sell). The price of 9999 gold rings at Doji was traded at 116.5-119.5 million VND/tael (buy - sell).

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Although gold prices are struggling to find direction, some experts are still optimistic about the precious metal's prospects next week, especially as the Jackson Hole event approaches.

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Source: https://baohaiphong.vn/gia-vang-tuan-nay-se-di-ngang-cho-tin-tu-fed-518415.html