Gold is trading sideways to start the week with little in the way of market-moving data or events to trigger volatility in the precious metal this week. It may be that the market is already setting its sights on next week’s Jackson Hole Symposium for the next directional driver. This year’s event, ‘Reassessing Constraints on the Economy and Policy’ will be held on August 25-27 and will feature a raft of global central bankers. With no FOMC meeting this month – although the last minutes are due this Wednesday – the Fed may use next week’s meeting to give more details about the path of future rate hikes and bond sales.
