Gold Awaits PCE Inflation Data and Warsh Speech at Jackson Hole

Gold and silver prepare for a week centered on inflation readings, economic growth and Federal Reserve policy signals. The main drivers will be July PCE data and Fed Chair Kevin Warsh’s Jackson Hole speech, which could trigger volatility in precious metals markets.

Bullion prices climbed sharply this week on a weaker dollar, fading odds of a September rate hike and U.S. fiscal concerns. Gold broke above $4,500 an ounce after the Treasury buyback announcement and traded over $4,600 on Friday afternoon, while silver stayed above $69 and touched $70.

The calendar features consumer confidence, new home sales, Core PCE, the second-quarter GDP revision and durable goods orders. Friday’s Warsh speech plus the preliminary annual payrolls benchmark revision will shape rate expectations and may either bolster or weigh on gold and silver.