Gold settles higher as dollar steadies

Gold prices rise as markets await Warsh’s remarks for clues on the Federal Reserve’s monetary policy outlook.

Gold and silver prices settled higher in volatile trading on Thursday, supported by a steady dollar as markets awaited Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole Symposium tomorrow.

Markets are hoping to gain fresh signals on the outlook for monetary policy after Warsh decided to abandon forward guidance.

As the Jackson Hole Symposium kicked off today, several Fed officials made more hawkish comments on interest rates.

Jeffrey Schmid, President of the Federal Reserve Bank of Kansas City, said he still favored raising interest rates to curb inflation and bring it back to the 2% target, adding that the current rate level is too accommodative and does not sufficiently constrain economic activity.

Beth Hammack, President of the Federal Reserve Bank of Cleveland, took a similar stance, reiterating her call for higher interest rates and stressing that recent inflation data indicate the central bank remains far from achieving its target.

*Thursday, Aug. 27, 2026 settlement.