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The Open - Jim Wyckoff

Gold Pressured by Rebound in U.S. Dollar Index

(Kitco News) - World stock markets were mixed overnight in quiet, late- summer trading. Markets could be quieter the next couple weeks, until after the U.S. Labor Day holiday in early September. Featured in the marketplace this week has been Fed speak and the key "outside markets." Following the June FOMC minutes released Wednesday afternoon that were deemed to favor the monetary policy hawks, New York Fed President William Dudley on Thursday said recent stronger U.S. economic data will allow the Fed to raise interest rates at some point. Dudley was not precise on the timing of a future Fed rate hike.

By Jim Wyckoff, contributing to Kitco News; jwyckoff@kitco.com
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