Gold Prices Recover as Investors Await Fed Cues at Jackson Hole

Gold futures on the Multi Commodity Exchange (MCX) opened nearly 0.4 per cent lower on Friday, but recovered some losses as investors awaited remarks from US Federal Reserve Chair Kevin Warsh at the Jackson Hole economic symposium.

However, silver futures for September delivery gained 0.82 per cent to Rs 2,42,674 per kg.

The price of 10 grams of 24-carat gold stood at Rs 1,58,226, down from Rs 1,58,386 on Thursday, according to data from the India Bullion and Jewellers Association (IBJA).

Market participants are awaiting indications about the US central bank's interest-rate outlook.