Gold treads water as investors count down to Yellen's address

Gold is treading water before a speech by Federal Reserve Chair Janet Yellen on Friday that may shed light on the U.S. central bank's tightening path, with prices closing within a US$4 range since Friday.

Bullion for immediate delivery was at US$1,337.07 an ounce at 3:13 pm in Singapore, according to Bloomberg generic pricing, from US$1,337.56 on Tuesday, the lowest close since Aug 12.

Gold's in a holding pattern after a 26 per cent rally this year as comments from Fed officials are parsed for clues on the timing of any increase. After several policy makers signaled in recent days that tighter policy may be warranted this year, investors are counting down toward Ms Yellen's speech at the annual Jackson Hole symposium. Higher borrowing costs typically damp the appeal of bullion.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg