PCE Inflation and Jackson Hole to Drive Gold Prices Next Week

The gold price surged this week due to a weaker US dollar, fading expectations of a September Fed rate hike, and concerns over the US fiscal outlook.

Gold broke above $4,500 an ounce following Wednesday's Treasury buyback announcement and traded above $4,600 on Friday afternoon. Silver held above $69 an ounce and touched the $70 level.

The coming week will bring a slew of economic data releases that could influence gold prices. On Tuesday, investors will focus on the Conference Board Consumer Confidence Index and New Home Sales. The US calendar is quiet on Monday before attention turns to these key indicators.