The gold price fell on Friday morning, in anticipation of the Symposium Jackson Hole annual the federal Reserve, during which Jerome Powell, the chairman of the Fed, is expected to provide clarification on future plans for monetary easing.
The future gold for delivery in December traded on the Comex division of the New York Mercantile Exchange, declined 0.2% to 1 505,85$ 10: 00.
The markets currently expect that the Fed will reduce its rate at its next meeting in September, but the uncertainties as to the orientation of the future monetary policy increased after the publication of the minutes of the last meeting of the central bank.
The Fed has not disclosed its plans for a series of rate reductions, as expected, suggesting that the reduction in the last month was a movement in time.
President Donald Trump would have made pressure on Powell for that it announced a reduction of 1% of its rates to support Wall Street and other markets. But most economists expect Powell to maintain its independence and ignores the president.
The ingots without performance are generally regarded as benefiting from the lower rate.
The evolution of the political unrest underway in Hong Kong and the trade negotiations between china and the us should also dictate the direction of gold as a safe haven next week.