Issues at the Jackson Hole Symposium Send Gold Prices Plunging Near $3,300

High volatility gripped financial markets on Tuesday, with attention focused on the Jackson Hole Symposium in the United States, which will take place from August 21st to 23rd. This major event has the potential to trigger major movements as several central bank governors, including Fed Chairman Jerome Powell, will speak. The market will be looking for clues regarding the Fed's long-term interest rate outlook. This sentiment will continue to influence market movements during the European trading session on Wednesday (August 20, 2025), in addition to the release of UK inflation data (consumer price index/CPI) and German producer price index (PPI). The following data is from Trading Central: UK CPI (year-on-year/Jul) at 1:00 PM WIB; forecast 3.8% vs. previous 3.6% UK Core CPI (year-on-year/Jul) at 1:00 PM WIB; forecast 3.8% vs. previous 3.7% German PPI (year-on-year/Jul) at 1:00 PM WIB; forecast -1.4% vs. previous -1.3%
GOLD The price of gold (XAUUSD) fell US$17.15, or 171.5 pips, to US$3,315.38 per troy ounce in Tuesday's trading. Gold had previously risen to US$3,345.22 per troy ounce before reversing. Gold is under pressure ahead of the Jackson Hole meeting in the US, where global central bankers will gather. Fed Chairman Jerome Powell will speak at the event, and rumors are that he will not be overly dovish, putting pressure on gold to approach US$3,300 per troy ounce. This sentiment will continue to influence gold's movement in European trading.