Forex
Warsh's Jackson Hole Speech Looms Large Over Gold Prices
Gold prices were flat in early Asian trading on Friday as markets awaited the highly anticipated speech from U.S. Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium.
The price of spot gold was down 0.2% to $4,589.85 per ounce by 0041 GMT, while U.S. gold futures fell 0.5% to $4,642.60.
On Thursday, Fed officials expressed concerns about the U.S. inflation landscape, with the Personal Consumption Expenditures Price Index standing at 3.7% in the 12 months through July.
The stable labor market and low unemployment rate have given the Fed room to focus on containing inflation, which is a key factor for gold prices.