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PRECIOUS-Gold holds steady as investors await Fed remarks at Jackson Hole
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PRECIOUS-Gold holds steady as investors await Fed remarks at Jackson Hole
Aug 20, 2025 9:46 PM

*

Fed's Jackson Hole symposium in Wyoming begins today

*

Trump calls on Fed Governor Cook to resign over mortgage

allegations

*

Fed minutes show 'almost all' officials preferred leaving

rates

unchanged

(Updates for Asia midday session)

By Anmol Choubey

Aug 21 (Reuters) - Gold was little changed on Thursday

as investors awaited cues on the Federal Reserve's policy

outlook ahead of the annual economic symposium at Jackson Hole,

Wyoming, which starts later in the day.

Spot gold was down 0.2% at $3,339.97 per ounce, as of

0358 GMT. U.S. gold futures for December delivery also

lost 0.2% to $3,382.40.

The U.S. dollar index rose 0.1%, making

greenback-back priced gold expensive for overseas buyers.

Fed Chair Jerome Powell is expected to deliver a keynote

speech on Friday at the symposium, which will be held from

August 21-23, with investors closely monitoring whether he backs

measures to bolster the labor market or focuses on inflation

risks.

"We don't think gold prices are going to rise significantly

and believe they are consolidating at the moment. Even if

interest rates are cut slightly, we might see a slight uptick in

gold prices, and...the $3,400 mark is possible. If not, then

prices may continue to consolidate or possibly notch a little

lower, closer to $3,300," said Brian Lan, managing director,

GoldSilver Central, Singapore.

Last month, two Fed officials - Vice Chair for Supervision

Michelle Bowman and Governor Christopher Waller - voted for a

quarter-point rate cut to address job market weakness, but their

stance lacked broader support.

The Fed has held rates steady since December, with CME's

FedWatch tool projecting an 85% chance of a quarter-point rate

cut in September.

Gold typically performs well in a low-interest-rate

environment and during times of heightened uncertainty.

U.S. President Donald Trump called on Fed Governor Lisa Cook

to resign over alleged issues related to her mortgages in

Michigan and Georgia, escalating his efforts to gain influence

over the central bank.

Elsewhere, Russia said attempts to resolve security issues

relating to Ukraine without Moscow's participation were a "road

to nowhere".

Spot silver was down 0.1% to $37.85 per ounce,

platinum fell 0.4% to $1,334.58 and palladium shed

0.5% to $1,108.84.

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