Gold Retreats as Markets Await Hawkish Signals from Fed Chair Warsh

Gold prices slipped on Friday as market participants awaited Federal Reserve Chair Kevin Warsh's keynote address at the Jackson Hole symposium. Spot 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 it hit a more than three-month high earlier this week following the US Treasury's announcement of support measures for long-duration bonds.

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