Gold Holds Firm Above $4,600 Amid Warsh Speech Anticipation

Gold prices held firm above $4,600 on Thursday as investors eyed Fed Chair Kevin Warsh's speech. The XAU/USD currency pair rose by 0.17% despite solid US jobs data and a widening trade deficit.

The US jobless claims report showed a decline in unemployment benefits to 203K, below forecasts of 208K. However, the US trade deficit widened from $101.4 Billion to $118.8 Billion in July.

Geopolitics continued to grab headlines as the Iran-Oman deal on the Strait of Hormuz was met with skepticism by a US official. The New York Post cited a US official saying 'it doesn't matter.'