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PRECIOUS-Gold little changed as investors await Jackson Hole remarks
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PRECIOUS-Gold little changed as investors await Jackson Hole remarks
Aug 20, 2025 6:13 PM

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

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