Gold Prices Retreat Below $4,600 as Investors Await Fed Clues

Gold prices have retreated below $4,600 per ounce, after briefly surpassing this threshold earlier in the day. As of 2:16 PM Vietnam time, spot gold prices had increased by 0.11% to $4,599.73 per ounce.

The recent surge in gold prices has been driven by concerns over the US Treasury's expansion of its repurchase program for long-term government bonds. This move has increased demand for gold as a defensive asset, and some analysts believe that this trend may continue in the medium term.

However, investors are now focusing on the speech of US Federal Reserve Chairman Kevin Warsh at the Jackson Hole thematic conference on August 28. This will be one of his first major appearances as Fed head, and could provide valuable insight into the central bank's interest rate outlook.