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The yearly Jackson Opening Symposium, an event of main lenders, economists, and banks, will certainly see its very first digital conference today, and will likely establish the tone for further U.S. dollar devaluation, claimed Gary Wagner, editor of TheGoldForecast.com.
" When you've obtained every one of the major reserve banks obtaining with each other, they acknowledge the demand for a long-term plan rather than what's the economy mosting likely to look like next year, they're really keeping an eye out at the next decade. What that tells me is that they recognize that the crisis we're in is not going to be resolved overnight therefore that's what's so critically crucial," Wagner told Kitco Information. "I believe that it can have a destructive result on the UNITED STATE buck. If it does, we will see gold remove which will certainly indicate the bottom of this recent [gold cost] improvement."
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Jackson Hole: big dollar moves expected; sell gold now or hold?
The annual Jackson Hole Symposium, a gathering of central bankers, economists, and financial institutions, will see its first ever virtual conference this week, and will likely set the tone for further U.S. dollar depreciation, said Gary Wagner, editor of TheGoldForecast.com.
“When you’ve got all of the major central banks getting together, they recognize the need for a long-term plan rather than what's the economy going to look like next year, they're actually looking out at the next decade. What that tells me is that they know that the crisis we're in is not going to be resolved overnight and so that's what's so critically important," Wagner told Kitco News. “I believe that it could have a detrimental effect on the U.S. dollar. If it does, we will see gold take off and that will indicate the bottom of this recent [gold price] correction."
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