Gold Slips as Fed Chief Warsh’s Jackson Hole Speech Looms

Gold slipped on Friday as market participants awaited closely watched remarks from Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium.

Spot gold fell 0.5 percent to US$4,576.30 per ounce by 01:57 GMT after hitting a more than three-month high earlier this week following the US Treasury’s announcement of support measures for long-duration bonds. US gold futures eased 0.8 percent to $4,629.00.

Spot silver ​fell 1 percent to $68.54 per ounce and palladium declined 0.8 percent to $1,339.84. Platinum was down 0.6 percent at $1,834.83, on track for ​a weekly loss.