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Gold and silver prices have entered a consolidation phase following a sharp rally, with market participants eagerly awaiting two major economic catalysts over a 48-hour period. The first test comes from crucial US economic data released on Wednesday, which is expected to challenge the current bond yield channel and drive short-term price momentum across precious metals. The second major milestone occurs on Friday, when Kevin Warsh delivers a key speech at the Jackson Hole symposium. This event is viewed as a critical test for the fiscal-credibility thesis that has underpinned the broader rally in hard assets. Analysts note that shift in policy tone or yield expectations could spark heightened volatility in metal markets. Traders and institutional investors are closely monitoring these events for signals regarding future rate paths and economic stability. A stronger-than-expected US data print could bolster the US dollar and weigh on bullion, while dovish remarks at Jackson Hole may reignite bullish momentum for both gold and silver.
