Commodities
Gold Prices Slip Ahead of Fed Chief Warsh's Jackson Hole Address
Gold prices slipped on Friday as investors awaited the highly anticipated speech from Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium. The spot price of gold fell by 0.5% to $4,576.30 per ounce, while US gold futures eased 0.8% to $4,629.00.
The decline in gold prices comes after the metal reached a three-month high earlier this week following the US Treasury's announcement of support measures for long-duration bonds.
Silver and palladium also suffered losses, with spot silver falling 1% to $68.54 per ounce and palladium declining 0.8% to $1,339.84. Platinum was down 0.6% at $1,834.83, on track for a weekly loss.