Gold futures fall ahead of Jackson Hole symposium

Gold bars

Gold futures fell on Thursday as investors awaited signals on US Federal Reserve policy at the annual Jackson Hole economic symposium, which begins later in the day and runs for three days.

December gold futures declined 0.2%, or $6.8, to $3,381.7 an ounce.

Spot gold dropped 0.25%, or $8.85, to $3,339.58 an ounce as of 08:30 a.m. Mecca time.

The dollar index, which tracks the US currency against a basket of six major peers, rose slightly by 0.1% to 98.31.

Elsewhere in precious metals, September silver futures gained 0.4% to $37.93 an ounce. Spot platinum was flat at $1,337.63, while spot palladium fell 0.2% to $1,112.84.

Investors are closely watching a keynote speech by Federal Reserve Chair Jerome Powell, seeking clues on whether he will emphasize measures to support the labor market or focus on inflation risks, Reuters reported.