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Central bankers optimistic about “soft landing” at Jackson Hole symposium

Amid the striking scenery of the Teton mountain range, a seemingly improbable outcome appeared within reach for the top central bankers who had gathered in Wyoming for the Jackson Hole symposium. After enduring the worst inflation shock in four decades, attendees at the Kansas City Federal Reserve’s annual conference expressed optimism that they were nearing a "soft landing" for the global economy, defying the odds.

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Gold prices rise sharply as Fed Chair signals rate cuts

Gold prices surged on Friday following two days of losses, as the dollar and Treasury yields fell sharply after Federal Reserve Chair Jerome Powell confirmed market expectations that the central bank is ready to begin cutting interest rates. This led to a decline in the dollar and bond yields, while Comex gold for December delivery rose by US$32 to US$2,548.70 per ounce, approaching Tuesday's record close of US$2,550.60 per ounce.

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Inghams’ 20% drop

Inghams (ASX:ING), a major Australian chicken producer, experienced a significant share price drop on Friday despite reporting a substantial increase in full-year profits. While the reported results were slightly below market expectations, the market's reaction seemed excessive.

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