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Gold Eases as Dollar Firms Ahead of Powell With India Prices Near Rs 1 Lakh

Traders are bracing for Jerome Powell’s Jackson Hole remarks that could reset rate‑cut expectations.

Overview

  • Spot gold slipped to roughly $3,326–$3,335 per ounce on Aug 22 as the dollar rose to a near two‑week high.
  • CME FedWatch put the chance of a September quarter‑point cut near 71%, down from above 90% a week earlier.
  • In Delhi, the All India Sarafa Association reported gold at Rs 1,00,370 per 10 grams, while silver jumped to Rs 1,15,000 per kg.
  • On MCX, front‑month gold traded around Rs 99,285 per 10 grams in morning trade, with silver futures near Rs 1,13,580 per kg.
  • Analysts pointed to ongoing support from ETF inflows and central‑bank buying, and Ventura projected Comex gold could test $3,600 by year‑end.