Fed Chair Warsh to speak at Jackson Hole, markets on edge; Bitcoin edges up, gold tokens slightly down; multiple institutions expand into crypto assets, regulatory and compliance developments frequent.
Global markets focus on Fed Chair Warsh's speech at Jackson Hole, with several Fed officials having released hawkish signals, and sticky inflation raising expectations of rate hikes. The crypto market edged higher on Nvidia's better-than-expected earnings, but overall volatility was limited. Gold prices pulled back under pressure from a strong dollar and rate expectations, but sentiment remains bullish after a strong August rebound. Institutional interest in digital assets continues to heat up, with several traditional financial institutions announcing expansion of crypto operations, showing long-term optimism for the industry.
Bitcoin held above $80,000, rising 1.57% in 24 hours to $80,263.36, Ethereum edged up 0.16%, SOL stood out with a 6.95% gain to $109.21. Nvidia's earnings beat boosted risk sentiment, and crypto markets followed equities higher. Entries by Charles Schwab, Mirae Asset, and others, as well as Ripple Prime launching stock derivatives business, show increased acceptance of crypto assets by traditional finance. But regulatory uncertainty remains, with Public Citizen reporting that Trump's crypto projects caused investor losses of $4.7 billion, raising concerns about politically-linked tokens.
Gold tokens XAUT and PAXG were at $4,584.60 and $4,590.06, down 0.57% and 0.32% in 24 hours, reflecting cautious sentiment ahead of the Jackson Hole speech. Gold has rebounded 16% in August, but analysts believe if Warsh makes hawkish remarks, gold prices may face downward pressure. Silver supply faces triple blows, but price reaction muted, market focuses on industrial demand outlook. India's gold discount widened, suggesting weak physical demand, which may limit upside for gold prices.
This briefing is generated automatically from public sources for reference only and is not investment advice. Markets carry risk; make your own decisions.
