US gold futures eased 0.7% to $4,632.40.

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 per cent to $4,580.19 per ounce by 0438 GMT. It touched a more than three-month high of $4,696.18 on Tuesday, following the US Treasury’s ‌announcement of support measures for long-duration bonds.US gold futures eased 0.7 per cent to $4,632.40.The case for Warsh to ‌lean hawkish is greater than the case for him ‌not ⁠to, and that could see gold retreat further ⁠from its cycle highs in the near term, said Matt Simpson, a senior analyst at StoneX.“But I suspect any such dip will be viewed ​favourably by bulls who missed ‌out on the first phase of the rally - and are keen to have another crack at $5,000,” he said.Fed officials shared their concerns about the US inflation landscape on Thursday, ‌as central bankers gathered in Jackson Hole. Their comments ​came a day after data showed that the Personal Consumption Expenditures price index, the Fed’s main inflation ⁠gauge, stood at 3.7 per cent in the 12 months through July.Fed Chair Warsh is scheduled to speak later in the ‌day.Traders see a 33.7 per cent chance of a US rate hike in September and a 74.2 per cent chance by December, according to the CME FedWatch tool.Despite its role as an inflation hedge, gold tends to lose appeal in a high interest rate environment as it offers no yield.Gold remains supported by ‌improving participation in exchange-traded funds and futures, along with concerns over US fiscal ​credibility and continued official-sector buying, though risks of a consolidation persist, OCBC precious metals strategist Christopher Wong said ⁠in a note.“We remain constructive (on silver), though a cleaner extension ⁠higher likely requires renewed weakness in yields, US dollar and a decisive break above the $70.60-$72 resistance area,” he said.Spot ‌silver fell 0.6 per cent to $68.85 per ounce and palladium declined 0.2 per cent to $1,349.44. Platinum was down 0.3 per cent at $1,840.78, on track for ​a weekly loss.Published on August 28, 2026