Gold held steady on Friday as market participants ​awaited remarks from Federal Reserve Chair Kevin Warsh at ⁠the Jackson Hole symposium, hoping for insights into the central bank’s future interest rate policies.Spot gold was little changed at $4,603.91 per ounce by ‌0652 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 ‌0.1% ⁠to $4,657.10.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% in the 12 months through ‌July.Fed Chair Warsh is scheduled to speak later in the day.Traders see a roughly one third chance of a US rate hike in September and a 74.2% chance by December, according to the CME FedWatch tool.Gold tends to lose appeal in a high interest rate environment as it offers no ‌yield.The yellow metal 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.Gold discounts in ⁠India, meanwhile, plunged this week, as demand fell sharply on market speculation that the government could consider rolling back ‌a recent hike in import duties.Spot silver rose 1.3% to $70.13 per ounce, platinum was up 1.7% at $1,878.58 and palladium ​gained 2.1% to $1,379.50.Published on August 28, 2026