Gold Prices Slip Ahead of Fed Chief Warsh's Key Speech

Market participants are keeping a close eye on Federal Reserve Chair Kevin Warsh's upcoming speech at the Jackson Hole symposium, which could have significant implications for gold prices. As a result, gold slipped on Friday by 0.5 percent to $4,576.30 per ounce.

The US Treasury's announcement of support measures for long-duration bonds earlier in the week had sent spot gold to a more than three-month high, but the market is now awaiting Warsh's remarks. Gold futures also fell, down 0.8 percent to $4,629.00.

Other precious metals were also down on Friday, with silver falling 1 percent to $68.54 per ounce and palladium declining 0.8 percent to $1,339.84. Platinum was down 0.6 percent at $1,834.83, putting it on track for a weekly loss.