Gold turns pale but silver shines
Bullion prices ended in a mixed mode at Comex on Monday, 18 August 2014. Gold prices ended the U.S. day session moderately lower on Monday and saw pressure from an improved risk appetite in the market place and by the recently stronger U.S. dollar. Gold took a hit on Monday, dipping back below $1,300 an ounce, as investors kept one eye on what's going on in geopolitical hotspots and the other looking ahead to what Federal Reserve Chairwoman Janet Yellen might say at the end of the week.
Gold for December delivery shed $6.90, or 0.5%, to $1,299.30 an ounce.
September silver rose 11 cents at $19.64 an ounce.
There was less risk aversion in the market place on Monday, as evidenced by generally higher stock markets worldwide, including good rallies in the U.S. stock indexes on Monday. Weekend news saw a meeting between Germany, Russia, Ukraine and France, regarding a implementing a cease-fire between Russian-backed separatists and Ukrainian troops.
Traders and investors are awaiting this week's annual Kansas City Federal Reserve meeting in Jackson Hole, Wyoming, that begins on Thursday. The confab of world central bankers has in the past yielded important U.S. monetary policy speeches and clues to the direction of monetary policy. Fed Chair Janet Yellen and ECB President Mario Draghi are scheduled to speak in Jackson Hole. Before the Jackson Hole event comes the Federal Reserve's FOMC minutes on Wednesday afternoon, which as usual will be closely scrutinized.
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