Commodities
Gold Prices Plunge After Warsh's Jackson Hole Speech
Gold prices have taken a hit after Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole economic symposium, declining by $125.566 to $4,476.524 per ounce.
The drop represents a significant pullback for gold, which had recently traded near record-high levels.
Warsh's comments have increased attention on the possibility that U.S. interest rates could remain restrictive if inflation does not show enough improvement, adding pressure to precious metals as traders reassess the expected path of monetary policy.