Gold Prices Slide Ahead of Fed Chief Warsh's Key Jackson Hole Speech

Gold prices declined on Friday as market participants awaited the highly anticipated speech from Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium. Spot gold fell by 0.5 percent to $4,576.30 per ounce after reaching a more than three-month high earlier this week due to the US Treasury's announcement of support measures for long-duration bonds.

The decline in gold prices came as investors and analysts looked forward to Warsh's speech at Jackson Hole, where he is expected to provide insights into the current economic landscape. The speech is closely watched by market participants, who see it as a key indicator of the Fed's monetary policy stance.

In addition to gold, other precious metals also witnessed a decline in prices. Spot silver fell 1 percent to $68.54 per ounce, while palladium declined 0.8 percent to $1,339.84. Platinum was down 0.6 percent at $1,834.83, on track for a weekly loss.