Gold Prices Rise Amid Inflation Concerns Ahead of Jackson Hole Speech

Gold prices have edged higher on Thursday as investors remain cautious ahead of Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Economic Symposium. The precious metal rose by 0.2% to around $4,599.57 per ounce, while US gold futures remained largely steady at $4,652.70.

The recent US inflation data showed a 3.7% year-on-year increase in the Personal Consumption Expenditures price index in July. This has kept inflation and interest-rate expectations in focus as investors assess the Fed's next steps.

Market participants are closely watching Warsh's speech for indications about the Federal Reserve's approach to inflation and monetary policy. His comments could influence expectations for future interest-rate moves and, in turn, the direction of gold prices.