Top Stories This Week: Powell Speaks at Jackson Hole, Gold Reacts

by birtanpublished on August 29, 2020

Welcome back to our weekly update i'm charlotte macleod with the investing news network and this is your quick look at the stories we've been covering that you need to hear about gold market watchers spent much of this

Week waiting to see what comments would come out of the annual central bank meeting in jackson hole wyoming held virtually this year due to covet 19 the event brought a much anticipated update from u.s federal

Reserve chair jerome powell in a thursday morning speech powell honed in on inflation saying that the fed will try to achieve an average inflation level of 2 percent over time that means if

Inflation has been under that level the fed may aim to even it out later with a higher number powell called the move a robust updating of fed policy and the reaction from the gold price was

Swift it spiked briefly over 1970 per ounce before falling quickly back down to around 1920 despite the abrupt jump and drop experts for the most part seem to agree that the fed's actions will be beneficial for

Gold in the long term for one thing gold is known as a hedge against inflation which means its appeal rises as inflation increases for another the consensus seems to be that in this environment the fed will hold rates

Lower for longer another situation that is typically good for gold with all of that in mind we asked our twitter followers this week what they think powwow's comments could mean for gold

The poll was ongoing at the time of this recording but respondents overwhelmingly said that they think the fed's new stance on inflation will be bullish for gold in the long term we'll be asking another question on

Twitter next week so make sure to follow us and share your thoughts in the cannabis space this week inn spoke with dan ahrens of advisor shares aarons manages the advisor shares pure cannabis etf

And he expressed his frustration with continued misinformation in the marijuana industry in his opinion investors still aren't as educated about cannabis as they should be for example

Conversations about state-level legalization in the u.s often involve companies that won't be able to enter those markets he also noted that investors are often interested in the biggest and most

Well-known names in the cannabis space but they can sometimes be the worst performers that's all for this week if you like this video make sure you subscribe to our channel and turn on notifications so you don't miss future

Updates and interviews in the meantime you can follow us on social media or click below for a free report or any article mentioned in this video see you next time

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