(Kitco News) - Gold and silver prices are modestly down in quieter early U.S. trading Thursday, as traders are awaiting the marketplace event of the week: the annual Federal Reserve symposium held in Jackson Hole, Wyoming.
The meeting gets under way Thursday evening. This meeting usually produces some market-sensitive news from world central bankers’ comments, including Fed Chair Jerome Powell. Powell is scheduled to speak at the confab on Friday morning at 10:05 a.m. EDT. December gold was last down $2.00 at $1,946.10 and September silver was down $0.147 at $24.245.
The marketplace is taking note of the BRICS meeting this week. China President Xi Jinping was a no-show for a scheduled speech at the confab. Broker SP Angel says in an email dispatch: “We wonder what economic disaster Xi was having to address while missing his speech.” U.S. economic data due for release Thursday includes the weekly jobless claims report, the Chicago Fed national activity index, durable goods orders, and the Kansas City Fed manufacturing survey.
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