Warsh Speech Weighs on Gold Ahead of Jackson Hole

Gold prices dropped on Friday and were poised for a weekly decline as investors awaited Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium.

The metal had reached a three-month high earlier in the week, driven by concerns over U.S. fiscal policy and Treasury support for longer-dated bonds.

However, gold struggled to extend its rally due to cautious investor positioning ahead of Warsh's address, which was closely watched for clues on inflation and interest rates.