Powell aside, Gold tries to climb again

<p>&nbsp;Gold prices traded higher again on Monday after experiencing a sharp fall last week.</p><p><br /></p><p>The Asian session saw the yellow metal trading higher at around $1,917 an ounce, up from Friday's low of $1,902.</p><p><br /></p><p>As expected, Federal Reserve (Fed) Chairman Jerome Powell's speech at the annual Jackson Hole symposium has sparked volatility in the market.</p><p><br /></p><p>Powell pointed out that the central bank may need to keep raising interest rates to lower inflation, which is still too high.</p><p><br /></p><p><br /></p><p>Although the statement is not as hawkish as he delivered a year ago in Jackson Hole, but investors see another increase in interest rates towards the end of the year.</p><p><br /></p><p>However, the fall in the price of gold after the statement was only temporary, before it bounced back to trade stable in early trading this week.</p><p><br /></p><p>Even so, investors should look forward to the European and New York sessions for clearer gold price movements.</p><p><br /></p><p>The focus next shifts to the release of key economic data, notably the US NFP jobs report on Friday.</p>