FX.co ★ Gold Little Changed

Gold prices remained around $3,330 per ounce on Tuesday as investors evaluated the US-led initiatives to resolve the conflict in Ukraine, while also anticipating insights from the Federal Reserve’s annual Jackson Hole symposium. Recent developments included a meeting between US President Donald Trump, Ukrainian President Volodymyr Zelenskiy, and European leaders, after which Trump announced discussions with Russian President Vladimir Putin. The goal is to organize a face-to-face dialogue between Putin and Zelenskiy, potentially culminating in a trilateral summit. This prospect has sparked optimism for a peace agreement, although investors are cautious about any immediate success. Meanwhile, all eyes are on Federal Reserve Chair Jerome Powell’s upcoming speech in Wyoming. Market participants are keen on deciphering any indications regarding the possibility of the US central bank resuming interest rate cuts in September. Currently, market expectations suggest an 84% likelihood of a 25 basis point rate reduction next month.