Gold drops in anticipation of Jackson Hole symposium

Gold prices continued to decline for the third day in a row on the back of a strengthening dollar and rising US Treasury yields. The dollar index rose 0.1%, putting pressure on gold, while the yield on the 10-year US Treasury bonds held near a two-week high.

Investors are also awaiting tomorrow's symposium in Jackson Hole and possible signals about the curtailment of incentives during the speech of the head of the Fed, Jerome Powell.

The current price of gold is $1,787 per ounce, palladium has fallen in price to $2,400 per ounce, silver has dropped to $23.67. The platinum price dropped to $987.65.

J. Powell will speak at the Fed's annual economic symposium on Friday. Market participants hope to receive more detailed information about the regulator's plans to roll back economic support measures. Many people do not realize this is possible, as the spread of the delta strain of coronavirus continues to cause concern.