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Gold Drops as Markets Eye Fed's Warsh at Jackson Hole

Wall Street Journal Markets •
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Gold slips in Asian trading as investors await clarity from Federal Reserve officials at the annual Jackson Hole gathering.

Markets are holding steady ahead of Kevin Warsh's speech on Friday, where he is expected to address the Fed's response to inflation pressures, according to ANZ Research analysts. A potential shift toward higher interest rates typically pressures non-yielding assets like gold.

Treasury Secretary Scott Bessent provided no new guidance on U.S. debt management strategy, despite recent bond buyback announcements that reignited concerns over fiscal policy and dollar stability, ANZ noted.

Spot gold fell 0.2% to $4,646.77 a troy ounce, reflecting cautious sentiment across global markets.