Precious Metals Shine Ahead of Jackson Hole Summit

Gold and silver prices are rising due to a weaker U.S. dollar index and lower U.S. Treasury yields. Traders and investors are eagerly awaiting the annual symposium in Jackson Hole, where speeches by Fed Chairman Jerome Powell and ECB President Christine Lagarde are expected to provide insights into future monetary policy. An upward revision to the Fed's inflation goal could impact the U.S. bond market. The Wall Street Journal reports that U.S. annual inflation has dropped to 3.2%. Powell is expected to lean hawkish on U.S. monetary policy, while Lagarde is likely to sound modestly hawkish.