Gold Prices Steady Ahead of Federal Reserve's Jackson Hole Symposium
Gold Prices Steady Ahead of Federal Reserve's Jackson Hole Symposium
As of August 19, 2025, gold prices have stabilized, with spot gold edging up by 0.2% to $3,337.62 per ounce. U.S. gold futures for December delivery also saw a modest increase of 0.1%, reaching $3,381.50. This stability comes as investors await the U.S. Federal Reserve's annual Jackson Hole symposium, scheduled for August 21–23, where Fed Chair Jerome Powell is expected to provide insights into the central bank's economic outlook and potential policy adjustments. Market participants are currently pricing in an 84% probability of a 25-basis-point rate cut at the Fed's next meeting, according to the CME FedWatch tool. Gold typically benefits from low interest rates and economic uncertainty. Source
In the broader precious metals market, silver experienced a slight decline of 0.3%, trading at $37.88 per ounce. Platinum remained relatively unchanged, down 0.1% to $1,321.58, while palladium saw a more significant drop of 1.1%, falling to $1,110.53. Source
Geopolitical developments are also influencing market sentiment. U.S. President Donald Trump has pledged support for Ukraine's security in ongoing negotiations to end the conflict with Russia. This follows recent meetings with both Ukrainian President Volodymyr Zelenskiy and Russian President Vladimir Putin. Such political developments can impact investor confidence and, consequently, precious metal prices. Source
Looking ahead, UBS has raised its gold price target for March 2026 to $3,600, citing persistent U.S. macroeconomic risks, a decline in dollar usage, and strong investment demand. This bullish outlook reflects expectations of robust demand from exchange-traded funds (ETFs) and central banks, coupled with a global shift towards bullion as a preferred reserve asset over the U.S. dollar. Source
Investors should monitor upcoming events, particularly the Federal Reserve's Jackson Hole symposium, for further guidance on monetary policy and its potential impact on precious metal markets.
