Gold Prices Decline Ahead of Warsh's Jackson Hole Speech

Gold prices declined on Friday as investors awaited the highly anticipated speech by Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium. The price of spot gold fell 0.5% to $4,576.30 per ounce, while US gold futures eased 0.8% to $4,629.00.

The recent surge in gold prices, which hit a three-month high earlier this week, was attributed to the US Treasury's announcement of support measures for long-duration bonds. However, market participants remain cautious ahead of Warsh's speech, which is expected to provide insight into the Fed's monetary policy and its implications on the global economy.

Spot silver prices also fell 1% to $68.54 per ounce, while palladium declined 0.8% to $1,339.84. Platinum was down 0.6% at $1,834.83, marking a weekly loss for the metal.