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Commodities

Warsh's Jackson Hole Speech Weighs on Gold as Dollar Strengthens

Guavy AI Editorial Team
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Gold
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Gold prices edged lower this week due to a stronger US dollar and steady inflation data. The precious metal is set for a marginal weekly decline despite trading near the USD 4,600-per-ounce mark.

The spot gold price was down 0.2 percent or USD 10.70 at USD 4,591.29 per ounce as of 5:55 a.m. on Friday, August 28.

Investors are closely monitoring comments from Federal Reserve Chair Kevin Warsh at the central bank's annual symposium in Jackson Hole, Wyoming. Any indication regarding the future path of US interest rates can significantly influence Treasury yields and the US dollar, both key drivers of bullion prices.

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