Gold prices are holding steady around $3,320-$3,350 per ounce as investors await two key developments: US-led diplomatic efforts to end the Ukraine war and the Federal Reserve’s Jackson Hole symposium starting Friday.
Fed Chair Jerome Powell’s keynote speech is expected to provide hints about potential interest rate cuts in September, with markets pricing in an 83% probability of a 25-basis-point reduction. Lower rates typically benefit gold as a non-yielding asset.