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(Kitco News) – World stock markets were mostly weaker Wednesday. U. S. stock indexes are also pointed toward lower openings when the New York day session begins. World stock markets are having a tough month of August, heading into the historically even tougher months of September and October.
Gold prices are slightly higher in pre-U. S.-session trading. Gold prices are in a near-term uptrend, but struggle when prices approach the key resistance level of $1,300.00.
In overnight news, the Euro zone Markit composite purchasing managers index came in at 55.8 in August from 55.7 in July. The August number beat market expectations. A reading above 50.0 suggests growth in the sector.
The marketplace is awaiting the annual central bankers meeting held in Jackson Hole, Wyoming, Thursday through Saturday. Featured speakers from around the world include Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi. Traders and investors will closely examine the Jackson Hole speeches for clues on future monetary policy moves by the world’s major central banks. In recent years the Jackson Hole central bankers confab has significantly moved the markets.
This post was published at Wall Street Examiner on August 23, 2017.