Gold Price Stabilized Above $4,600 Ahead of Fed Governor Warsh's Speech

The gold price is hovering above $4,600 as investors await the upcoming speech by Federal Reserve Governor Christopher Warsh for clues on potential rate cuts.

Warsh's remarks are closely watched due to his reputation as a hawkish voice on the Federal Open Market Committee (FOMC). A dovish tone or hints of imminent rate reductions could boost gold prices, while a more aggressive stance on inflation or slower pace of rate cuts could weaken it.

The market is currently pricing in a high probability of a rate cut at the next FOMC meeting, according to CME FedWatch data. However, recent comments from other Fed officials have been cautious, emphasizing a data-dependent approach.