Gold Price Holds at $4,600 Before Fed Chair Warsh Jackson Hole Speech

TLDR

• Gold traded flat around $4,600 per ounce on Friday ahead of Fed Chair Kevin Warsh’s speech at Jackson Hole
• Gold hit a three-month high near $4,700 earlier this week, driven by U.S. fiscal policy concerns
• Gold is on track for its biggest monthly gain since 1999, up nearly 14% in August
• Markets are pricing a 34% chance of a rate hike in September and 74% by December
• Silver, platinum, and copper also edged higher on Friday

Gold prices held steady on Friday as investors waited for Federal Reserve Chair Kevin Warsh to speak at the Jackson Hole economic symposium.

Spot gold traded at around $4,600 per ounce, while U.S. Gold Futures fell slightly by 0.3% to $4,651.41. The metal had reached a three-month high near $4,700 earlier in the week.

Despite a small pullback on Friday, gold is still on track for a marginal weekly loss after three straight weeks of gains.

A Big Month for Gold

August has been a strong month for bullion. Gold has gained nearly 14% this month, putting it on track for its biggest monthly gain since 1999.

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