Gold Stalls at Three-Month Highs Ahead of Warsh's Jackson Hole Speech
Gold prices held steady near three-month highs as investors weighed sticky inflation and Treasury bond moves ahead of Federal Reserve Chair Kevin Warsh's first major Jackson Hole address.
The spot price of gold rose about 0.2% to $4,599.57 on Thursday, while US futures traded near $4,652.70.
Gold has retained most of its powerful August rally despite renewed inflation concerns, with the metal up roughly 14% in the month so far.
The rally has coincided with strength across scarce assets, including Bitcoin, which recently rallied together with gold as falling long-term yields and dollar weakness revived the debasement trade.
Warsh's Jackson Hole speech is set to be a major catalyst for markets, with investors looking for clarity on how aggressively he intends to tackle inflation.