Gold Prices Rebound Ahead of Warsh's Jackson Hole Remarks

Gold prices rebounded on Thursday, rising by 0.5% to $4,615.27 per ounce as markets await comments from Federal Reserve Chair Kevin Warsh at the upcoming Jackson Hole economic symposium.

The recent increase in gold prices comes after a decline of over 1% in the previous session, driven by data showing that U.S. inflation remained elevated at an annual rate well above the Fed's 2% target for the 65th consecutive month.

The inflation figures have intensified debate within the Federal Reserve about whether interest rates should be raised or left unchanged, particularly as recent inflationary pressures linked to the Iran war persist.