Aug 21 (Reuters) - Gold prices were steady on Thursday
as investors awaited cues into the Federal Reserve's policy
outlook ahead of the Jackson Hole symposium in Wyoming, which
begins later in the day.
FUNDAMENTALS
* Spot gold eased 0.1% to $3,343.09 per ounce as of
0032 GMT. U.S. gold futures for December delivery also
lost 0.1% to $3,386.10.
* Last month, two Federal Reserve officials - Fed 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, minutes of
the Fed's meeting showed.
* Days after the meeting, a Labor Department data showed
fewer jobs were created in July, higher unemployment rate and
labor force participation at its lowest since late 2022,
aligning with Bowman and Waller's concerns.
* The Fed has held rates steady since December, with CME's
FedWatch tool projecting an 85% chance of a September rate cut.
* Fed Chair Jerome Powell will likely deliver the keynote
speech at Jackson Hole on Friday, with investors watching to
note if he backs measures to bolster the labour market or
retains focus on inflation risks.
* The conference is being held between August 21 and 23.
* Meanwhile, 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
influence the central bank.
* On the geopolitical front, Russia said attempts to resolve
security issues relating to Ukraine without Moscow's
participation were a "road to nowhere," sounding a warning to
the West as it scrambles to work out guarantees for Kyiv's
future protection.
* Elsewhere, spot silver held steady at $37.88 per
ounce, platinum fell 0.3% to $1,335.14 and palladium
shed 0.5% to $1,108.73.
DATA/EVENTS (GMT)
0030 Japan S&P Global Mfg, SVC PMI Flash SA August
0030 Japan S&P Global Comp Op Flash SA August
0715 France HCOB Mfg, Services, Composite Flash PMI August
0730 Germany HCOB Mfg, Services, Composite Flash PMI
August
0800 EU HCOB Mfg, Services, Composite Flash PMI August
0830 UK Flash Composite, Manufacturing, Services PMI
August
1230 U.S. Initial Jobless Clm 16 August, w/e
1230 U.S. Philly Fed Business Indx August
1345 U.S. S&P Global Mfg, Svcs, Comp PMI Flash August
1400 EU Consumer Confid. Flash August
1400 U.S. Existing Home Sales July