Gold Prices Plunge as Markets Await Warsh's Jackson Hole Speech

Gold prices fell globally on Friday as investors awaited remarks from Federal Reserve Chair Kevin Warsh at the Jackson Hole Symposium. Spot gold dropped by 0.5% to $4,576.30 an ounce by 01:57 GMT.

This decline follows a previous high reached this week after the U.S. Treasury Department announced measures to support long-term bonds.

Analyst Matt Simpson from StoneX believes that factors pushing Warsh toward a hawkish stance are stronger than those supporting a less restrictive position.