Warsh Speech Looms Large Over Gold Price at $4,700

The price of gold (XAU/USD) has stabilized near $4,700 on Tuesday, as investors await the speech by Federal Reserve Governor Christopher Warsh. Warsh's remarks are crucial in determining the Fed's monetary policy trajectory and its impact on interest rates and inflation.

As a known hawkish voice, any hint of a more aggressive tightening path could weigh on gold, while a dovish tone might support the precious metal. Traders positioning ahead of the speech expect it to offer fresh clues on the central bank's stance.

The technical outlook suggests that gold is consolidating just below the psychological $4,700 mark. A decisive break above this level could open the door toward the next resistance at $4,750, while immediate support is seen at $4,650, followed by the $4,600 handle.