Gold holds position as signals awaited at Jackson Hole

August 21, 2025 (MLN): Spot gold was up 0.62% at $3,336.50 an ounce as of [11:35 am] PST, according to data reported by Mettis Global.

Gold prices were steady on Thursday as investors awaited signals from the U.S. Federal Reserve’s policy outlook ahead of the annual Jackson Hole economic symposium, beginning later today in Wyoming.

U.S. gold futures lost 0.1% to $3,384.40.

Fed Chair Jerome Powell is set to deliver the keynote address on Friday, with markets watching closely for indications on whether the central bank will prioritize measures to support the labour market or continue emphasizing inflation risks.

“Gold remains in consolidation mode. A slight rate cut could push prices toward $3,400, but without that, we may see further sideways movement or a dip closer to $3,300,” said Brian Lan, Managing Director at GoldSilver Central, Singapore to CNBC.

The Fed has kept interest rates unchanged since December. According to CME’s FedWatch tool, traders are pricing in an 85% probability of a quarter-point cut in September.

Gold generally benefits in low-interest-rate environments and during times of heightened uncertainty.

Meanwhile, political pressure on the central bank intensified as U.S. President Donald Trump called for Fed Governor Lisa Cook’s resignation over alleged mortgage issues.

On the geopolitical front, Russia dismissed efforts to resolve security concerns over Ukraine without its participation as a “road to nowhere.”

Among other precious metals, spot silver was steady at $37.86 per ounce, while platinum slipped 0.3% to $1,334.99 and palladium eased 0.1% to $1,112.46.

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