Gold Prices Stable Ahead of Warsh's Jackson Hole Speech

Gold prices remained stable on Friday as investors awaited Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium, hoping to gain insights into future interest rate policies.

The spot price of gold was little changed at $4,603.91 per ounce by 0652 GMT, while US gold futures eased 0.1% to $4,657.10.

Matt Simpson, a senior analyst at StoneX, said the case for Warsh to lean hawkish is greater than the case for him not to, which could see gold retreat further from its cycle highs in the near term.

However, Simpson also suggested that any dip in gold prices will be viewed favorably by bulls who missed out on the first phase of the rally and are eager to reach $5,000.