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(Kitco News) All eyes are on the keynote address of Federal Reserve chair Jerome Powell on Thursday at the virtual Jackson Hole symposium, according to strategists from TD Securities. “We expect the Fed Chairman to announce the outcome of the monetary policy framework assessment effectively in advance, suggesting the formal adoption of average inflation targeting,” the strategists write. In response, buying gold and silver could bring some new interests into space. “Precious metals could find support in a change in momentum to make it clear that the Fed wants inflation to run above the 2% target as a make-up strategy. While such an announcement would in no way constitute a groundbreaking surprise, the consequences of such a policy may not yet be fully appreciated … The formal announcement could also revive currents in precious metals, which after withdrawal would be substantial. are lost. “Silver remains the favorite of TD’s precious metals because of its ‘clean positionability, increasing industrial demand, ultimately elastic investment demand, and inventory constraints.’
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