Gold Edges Higher Ahead of Warsh's Jackson Hole Speech

Gold prices edged higher on Thursday, holding near $4,600 an ounce as investors looked ahead to Federal Reserve Chair Kevin Warsh’s speech at Jackson Hole for clues on the path for interest rates after sticky U.S. inflation revived rate hike bets.

The data showed price pressures remained well above the Federal Reserve's target, pushing the dollar higher and lifting Treasury yields. This typically weighs on gold because it pays no interest and is priced in dollars.

Warsh’s speech becomes the next key test for investors who want to know how he plans to respond to inflation that has remained above the Fed's 2% goal for an extended period.