Gold price today: Gold rate falls big. Will price go down further?
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Gold prices fell on Thursday, pressured by a firmer dollar, while investors looked to the U.S. central bank's annual Jackson Hole symposium later in the day for further policy cues. Spot gold was down 0.5 per cent at $3,331.74 per ounce. U.S. gold futures for December delivery also lost 0.4 per cent to $3,373.70. The U.S. dollar index was up 0.1 per cent, making U.S. dollar-priced gold expensive for overseas buyers.Global bond yields have ticked higher, and the dollar has firmed up a tiny bit, and both of these factors are helping to provide some light pressure on gold today.... the metal is continuing to consolidate, frustrating both the bulls and bears alike, said Fawad Razaqzada, market analyst at City Index and FOREX.com.Fed Chair Jerome Powell is expected to speak on Friday at the August 21-23 Jackson Hole symposium, with investors watching whether he backs measures to bolster the labour market or focuses on curbing inflation. The Fed has held rates steady since December, although investors expect a 79 per cent chance of a quarter-point cut by September, according to the CME's FedWatch tool."There are growing expectations that the Fed Chair will signal a clear shift in policy on Friday... but whether the metal will head sharply higher to break $3400 resistance remains to be seen," Razaqzada added.Non-yielding gold typically performs well in a low interest rate environment.Minutes from the Fed's July meeting showed the policymakers who dissented against last month's decision to keep interest rates unchanged - Vice Chair for Supervision Michelle Bowman and Governor Christopher Waller - were alone in advocating for a rate cut.Meanwhile, U.S. President Donald Trump called on Fed Governor Lisa Cook to resign over allegations made by one of his political allies about mortgages she holds, intensifying his efforts to influence the central bank.Spot silver was down 0.7 per cent at $37.64 per ounce, platinum fell 1.5 per cent to $1,318.18 and palladium shed 1.6 per cent to $1,096.73.A1. Spot silver was down 0.7 per cent at $37.64 per ounce, platinum fell 1.5 per cent to $1,318.18 and palladium shed 1.6 per cent to $1,096.73.A2. Fed Chair is Jerome Powell.
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Economic Times
6 hours ago
- Economic Times
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Bitcoin, Ethereum, XRP are under the spotlight as crypto investors cautiously watch market movements ahead of the Federal Reserve's Jackson Hole meeting. Bitcoin has dipped to a two-week low near $112,425, while Ethereum tests key resistance around $4,218, and XRP fluctuates between $2.88 and $2.99, eyeing a potential breakout above $3. Bitcoin, Ethereum, and XRP are all showing cautious movement as investors brace for signals from the Federal Reserve's Jackson Hole symposium. Bitcoin dipped to a two-week low near $112,425, reflecting hesitancy ahead of potential policy guidance. Ethereum, despite a recent 4.8% rally, remains under pressure near $4,218, testing key resistance levels that could dictate its next move. XRP continues to fluctuate between $2.88 and $2.99, with analysts watching closely for a breakout above $3 that could spark renewed momentum. Across the board, market participants are weighing macroeconomic cues, institutional activity, and technical support levels, creating a delicate balance between opportunity and caution in the crypto space. The trajectory of Bitcoin, Ethereum, and XRP in the coming weeks will largely hinge on Federal Reserve policy decisions. While the current pullback reflects market caution, a shift in the Fed's approach — particularly a move toward lowering interest rates — could provide the catalyst for the next crypto surge. Bitcoin (BTC) slipped to $112,425, down 1.23% over the past 24 hours, marking a two-week low. The intraday range of $112,425–$114,726 reflects increased volatility as traders await cues from the Federal Reserve's Jackson Hole symposium. ALSO READ: US stocks fall: Dow drops 0.3%, S&P 500 hits fifth losing day, Nasdaq slides as Walmart earnings miss and manufacturing surges Analysts are split on the market's next direction: some see this as a temporary pullback, while others warn of a potential deeper correction if liquidity tightens or macroeconomic uncertainty rises. Despite the dip, Bitcoin remains above key psychological support levels near $110K. Market watchers note that trading volume has slightly contracted, suggesting hesitation among investors rather than panic selling. For long-term holders, this may present a cautious entry point, but short-term traders are bracing for potential swings. Current Price: $112,425 $112,425 24h Change: -1.23% -1.23% Intraday Range: $112,425 – $114,726 $112,425 – $114,726 Trend: Dipped to a two-week low , showing market caution. Dipped to a , showing market caution. Support Level: Around $110K Around $110K Resistance Level: Near $115K Near $115K Market Sentiment: Mixed; some traders view this as a temporary pullback , others anticipate deeper corrections. Mixed; some traders view this as a , others anticipate deeper corrections. Volume: Slightly contracted, indicating hesitation rather than panic selling. Ethereum (ETH) is currently trading at $4,218, down 1.90% in the last 24 hours, with an intraday range of $4,218–$4,370. ETH's recent 4.8% rally pushed it closer to important resistance zones, attracting attention from institutional investors and DeFi participants. Analysts note that while today's minor decline reflects broader market caution, Ethereum's support above $4K remains solid. Increased activity in decentralized finance applications and smart contract deployment is supporting ETH demand. Traders will be watching for a decisive breakout above $4,300–$4,350, which could signal further upward momentum. Current Price: $4,218.43 $4,218.43 24h Change: -1.90% -1.90% Intraday Range: $4,218 – $4,370 $4,218 – $4,370 Trend: Despite a small dip today, ETH recently gained 4.8% , approaching key resistance levels . Despite a small dip today, ETH recently gained , approaching . Support Level: $4,000 $4,000 Resistance Level: $4,350 $4,350 Market Drivers: Increased DeFi activity , strong institutional interest , and smart contract adoption. Increased , strong , and smart contract adoption. Investor Outlook: Watching for breakout above $4,350 to confirm upward momentum. XRP (XRP) is trading around $2.89, down 0.69%, with its intraday range spanning $2.88–$2.98. XRP's movement has been characterized by volatility and range-bound trading, with potential for a bullish breakout if the coin surpasses the $3.00 level. However, investors remain cautious due to recent whale sell-offs and delayed ETF approvals, which can trigger sudden price swings. Analysts suggest that a sustained move above $3 could catalyze momentum, while failure to breach this level may see XRP oscillating in its current range. Current Price: $2.89 $2.89 24h Change: -0.69% -0.69% Intraday Range: $2.88 – $2.98 $2.88 – $2.98 Trend: Volatile and range-bound , bouncing between $2.82 and $2.99. , bouncing between $2.82 and $2.99. Critical Level: $3.00; a sustained move above could trigger bullish momentum. $3.00; a sustained move above could trigger bullish momentum. Investor Caution: Recent whale sell-offs and ETF delays may influence price swings. Recent and may influence price swings. Market Outlook: Watching for breakout or continued oscillation within the current range. The Federal Reserve remains the central force influencing crypto sentiment. When U.S. interest rates are high, investors tend to move toward safer, yield-bearing assets like bonds and away from volatile investments such as cryptocurrencies. Conversely, lower rates historically boost risk-taking, making digital assets more appealing. Recent signals, however, suggest a mixed outlook. Cleveland Fed President Beth Hammack indicated that current economic data does not support a rate cut, strengthening the U.S. dollar and applying downward pressure on Bitcoin. At the same time, expectations of a possible rate reduction in September have kept some investor optimism alive. Lower interest rates could make crypto more attractive relative to traditional investments. Yet, persistent inflation remains a concern — core inflation rose 3.1% in July, signaling that the Fed may hesitate to ease monetary policy aggressively. All eyes are on Federal Reserve Chair Jerome Powell as he prepares to speak at the Jackson Hole Economic Symposium. Investors are looking for clues on the Fed's next moves. A dovish tone could reignite crypto optimism, potentially sparking a rebound in Bitcoin, Ethereum, and XRP. On the other hand, any hawkish hints — indicating caution against cutting rates due to inflation concerns — could extend the current downturn. Historically, these speeches have the power to trigger rapid market swings, especially in digital assets. For crypto investors, these developments suggest caution and preparation: Follow Fed Signals Closely: Powell's announcements can move markets sharply. Understanding the Fed's stance on interest rates is critical for timing trades. Powell's announcements can move markets sharply. Understanding the Fed's stance on interest rates is critical for timing trades. Diversify Your Portfolio: Don't rely solely on a single cryptocurrency. Diversification can mitigate volatility risks. Don't rely solely on a single cryptocurrency. Diversification can mitigate volatility risks. Monitor Macroeconomic Trends: Inflation data, dollar strength, and broader market cues directly influence crypto performance. Staying informed helps avoid surprises. Even in a downturn, strategic positioning can benefit those ready to act on market insights. With the Federal Reserve's Jackson Hole meeting on the horizon, crypto markets are positioned for possible short-term turbulence. Traders should be prepared for volatility across BTC, ETH, and XRP, and consider both macroeconomic indicators and sector-specific developments. Bitcoin investors should monitor support near $110K and resistance around $115K. should monitor support near $110K and resistance around $115K. Ethereum traders can watch for breakout attempts near $4,350, driven by DeFi and institutional activity. can watch for breakout attempts near $4,350, driven by DeFi and institutional activity. XRP holders should note whale activity and ETF timelines, as these events may dictate near-term price action. Crypto markets are navigating a delicate balance between optimism and caution. Bitcoin's recent dip, Ethereum's resistance challenge, and XRP's range-bound volatility underscore a market sensitive to Federal Reserve signals. Q1: What is Bitcoin, Ethereum, XRP price today? Bitcoin $112,425, Ethereum $4,218, XRP $2.89 as of current trading. Q2: Will Bitcoin, Ethereum, XRP rise after Fed signals? Market movement depends on Jackson Hole updates, technical support, and investor activity.
Time of India
8 hours ago
- Time of India
US central bank under scrutiny as Donald Trump criticizes Powell; Jackson Hole braces for high-stakes speech, why Fed independence matters
The battle over the independence of the US Federal Reserve has intensified, with President openly calling for the resignation of a governor, threatening to fire Chair Jerome Powell, and repeatedly pressuring the central bank to cut interest rates. Tired of too many ads? go ad free now The escalating confrontation has revived a long-running debate over why the Fed has historically been insulated from direct White House influence — and why markets, economists, and past experience suggest that independence is critical. This week, Trump demanded that Fed governor Lisa Cook step down after a mortgage fraud allegation, which she has flatly denied, saying she would not be 'bullied' into leaving her post. The move came just ahead of Powell's much-watched speech at the annual Jackson Hole economic symposium, his last as chair before his term ends in May 2026. The Fed, which sets interest rates and manages the world's largest economy's monetary policy, has long been one of Washington's few independent power centers, AP reported. But Trump has repeatedly railed against Powell for refusing to cut borrowing costs, arguing that high interest rates are slowing growth and raising the government's debt-servicing bill. At one point, the president even accused Powell of mismanaging a $2.5 billion renovation of the Fed's headquarters, an allegation that economists dismissed as political theatre. Markets watch as Powell holds ground For Wall Street, Powell's stance matters. The Fed has kept its benchmark rate at 4.3% for five straight meetings, a level meant to tame inflation but one that also keeps mortgages, auto loans, and business borrowing expensive. Powell has said the central bank needs more time to assess the impact of Trump's sweeping tariffs on inflation and growth. Tired of too many ads? go ad free now But the economic picture has grown murkier. July's jobs report showed weaker-than-expected hiring, casting doubt on Powell's earlier description of the labour market as 'solid.' Inflation, meanwhile, ticked higher in July, with core prices rising 3.1% from a year ago — above the Fed's 2% target. That leaves Powell trapped between sluggish employment that argues for a rate cut and stubborn inflation that argues against it. Most economists expect Powell to hint at a possible cut later this year without committing to one in September, disappointing investors who have priced in an earlier move. 'The dilemma that the Fed is in has become, if anything, more intense,' said David Wilcox, former Fed economist and now senior fellow at the Peterson Institute. Why Fed independence matters The stakes go beyond one rate decision. Economists warn that allowing a president to dictate monetary policy could undermine confidence in US markets, push up government borrowing costs, and stoke inflation. The Fed's credibility rests on its ability to make unpopular decisions when necessary, such as raising rates even when politicians want easy money. That lesson was seared into economic memory in the 1970s, when then-Fed Chair Arthur Burns, under pressure from President Richard Nixon, kept rates low heading into the 1972 election. Inflation spiralled, and the US endured years of economic pain. It took Paul Volcker, appointed by President Jimmy Carter in 1979, to impose brutally high rates of nearly 20% — triggering a deep recession but ultimately taming runaway prices. Volcker's defiance is now seen as a defining example of why central banks must stand apart from day-to-day politics. Trump's pressure campaign Trump has made little secret of his frustration with Powell. He has accused him of mishandling inflation, mismanaging Fed operations, and blocking growth. At a recent tour of the Fed's renovation project, Trump tried to publicly embarrass Powell by claiming costs had soared to $3.1 trillion, a figure Powell calmly dismissed as including unrelated expenses. The president's attacks are unusual in their intensity, though not unprecedented. Past presidents, from Lyndon Johnson to Ronald Reagan, have privately leaned on Fed chiefs. What sets Trump apart is his willingness to air those grievances in public and to threaten removal of officials whose terms are protected by law. Legal experts say the president cannot fire a Fed chair simply for policy disagreements. The Supreme Court has signaled that removal would require 'cause' — such as misconduct or negligence. That may explain why Trump has focused on the renovation controversy as a potential pretext. Still, any attempt to oust Powell would likely spark a court battle and roil global markets. How much control presidents really have Despite its independence, the Fed is not unaccountable. The president appoints all seven members of its governing board, subject to Senate confirmation, and over time can reshape policy direction. Trump will get his chance when Powell's term ends in May 2026. Congress also has a role: in 1977, it gave the Fed its 'dual mandate' to pursue stable prices and maximum employment. The chair must testify before lawmakers twice a year, offering public explanations of the Fed's decisions. For now, however, Powell and his colleagues retain their votes on interest-rate policy. Even if Trump replaced Powell tomorrow, the 12-member rate-setting committee could still resist political pressure. That is precisely why markets prize Fed independence: it makes decisions more predictable, less politicized, and more credible. Powell's balancing act As Powell prepares to deliver his Jackson Hole speech, he faces one of the most delicate balancing acts of his career. The Fed must decide whether to prioritize cooling inflation, which risks choking growth, or cutting rates to cushion a slowing economy, which risks igniting prices. Either way, his words will be parsed by investors, politicians, and global markets alike. For Trump, the stakes are political; for Powell, institutional. For the Fed, it is about preserving a legacy of independence that, economists say, has safeguarded US stability for decades.
Time of India
9 hours ago
- Time of India
Are Nvidia stocks the single biggest factor behind S&P 500, US stock market's swing? Investors will be surprised to know details
Nvidia and Federal Reserve's announcement related to interest rate cut are perhaps the most pivotal factors that could trip up the runaway stock market. Chip producer Nvidia's financial report, which is scheduled to be released on Wednesday, is expected to produce the S&P's biggest one-day reaction over the next month. Nvidia Impact on US Stock Market As Nvidia has grown, swelling to a $4 trillion valuation last month, so has its weighting in the S&P 500. It now makes up almost 8 per cent of the index. The last time Nvidia reported earnings, in May, its stock rose 3.25 per cent and the S&P 500 rose 0.4 per cent. After reporting earnings in February, Nvidia sank more than 8 per cent and the S&P 500 dropped 1.6 per cent. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This is The Cost Of The New Walk-In Shower in Portland. Kohler Safe Showers Learn More Undo Nvidia has led rivals in the race to dominate the high-powered chips used to power AI, and next week investors are looking for signs that the relentless demand for Nvidia's products will continue. The company's earnings could help answer another big question looming over the stock market: whether there is a bubble in AI, as some have speculated this week. Other large companies in the index, like Apple and Microsoft, are also tied to the AI theme, so Nvidia's financial results are likely to affect these other big stocks as well. Live Events "It's always a big deal," said Stacy Rasgon, an Nvidia analyst at Morningstar, joking that he had perhaps become "jaded" by the frequency of big moves in Nvidia's stock price. US Fed Impact on Wall Street On Friday, the Federal Reserve chair delivers a hotly anticipated speech at Jackson Hole in Wyoming. Not long after that, the Labor Department will release the latest update on hiring, and then there's an important reading on inflation. The forecast for that market move is reflected in recent options activity -- derivatives that give an investor the right to buy or sell a stock, or an index of stocks, at a future date for a preset price. Investors use options to make bets on the direction of the market and to protect against the potential for the market to move against them. According to S&P 500 options data from Citi Global Markets, investors are positioned for a 0.8-percentage-point move -- in either direction -- on Friday, depending on what the Fed chair, Jerome Powell, says in his speech at the central bank's annual conference at Jackson Hole. Prices for next Thursday -- the first chance investors have to react to Nvidia's earnings released the night before -- imply a move in the index of 0.9 percentage points in either direction. The Fed still looms large over financial markets, with policy decisions that can move markets around the world. But the fact that quarterly results from one technology company focused on artificial intelligence can match, in the view of equity investors, the impact of some of the most widely tracked economic data and central bank activity reflects the significant influence that a handful of behemoth tech companies have on today's stock market. "On a relative basis, Nvidia's earnings is the largest event for the S&P 500 for the next month," said Stuart Kaiser, an equity strategist at Citi. "For equity investors," he added, "particularly in the S&P 500, the AI theme, and the impact of that on returns, is on par with the Fed now." For comparison, when Powell spoke at Jackson Hole last year, the S&P 500 rose a little more than 1 per cent. The year before, his remarks were followed by a 0.7 per cent increase in the index. Powell's address this week could shift investors' expectations for monetary policy and cuts to interest rates, both of which are crucial inputs for modeling the path ahead for the economy and stock market. The Trump administration has repeatedly complained about the Federal Reserve's keeping rates elevated, calling on the central bank to lower them rapidly, which would probably make borrowing cheaper and accelerate the economy. It would also help President Donald Trump fulfill a campaign promise to bring interest rates down. So far, the Fed has resisted, warning that rapidly lowering interest rates risks heating up the economy at the wrong time, potentially stoking inflation and raising prices for consumers. FAQs Q1. Who is US Fed Chairman? A1. US Fed Chairman is Jerome Powell. Q2. What is valuation of Nvidia? A2. As Nvidia has grown, swelling to a $4 trillion valuation last month, so has its weighting in the S&P 500. It now makes up almost 8 per cent of the index. The last time Nvidia reported earnings, in May, its stock rose 3.25 per cent and the S&P 500 rose 0.4 per cent. After reporting earnings in February, Nvidia sank more than 8 per cent and the S&P 500 dropped 1.6 per cent.
