Gold Eases Ahead of Warsh Speech and Jobs Data Revision

Gold prices eased to near $4,593 an ounce while silver rose 1.5% to $70.17. Traders await Fed Chair Kevin Warsh’s Jackson Hole speech and the preliminary payrolls benchmark revision that could shift rate expectations. Markets price a 34% chance of a September hike and 74% by December, with 10-year yields near 4.7%. Silver shows stronger momentum above the $69.96 breakout, while gold consolidates below $4,604 resistance. Strait of Hormuz tensions persist with only 24 vessels passing amid the conflict, supporting safe-haven demand even as WTI oil eased to $83.46. Analyst Kyle Rodda called recent price action “pretty constructive.”