Powell is slated to give his annual address in Jackson Hole, Wyoming, on Friday. Swaps are pricing in a high probability the Fed will cut borrowing costs by a quarter point next month. In the face of mounting pressure from President Donald Trump for hefty reductions,

Gold rates fell in early trade on Wednesday, August 20, as a stronger dollar weighed on sentiment, while investors awaited the minutes of the US Federal Reserve’s last policy meeting and Fed Chair Jerome Powell’s speech at Jackson Hole on Friday.

Gold futures fell modestly, as investors mostly held their fire ahead of the Federal Reserve's annual symposium this week in Jackson Hole, Wyoming.

Gold held steady on Tuesday as investors awaited the Federal Reserve's Jackson Hole symposium later this week for cues into possible rate cuts and weighed Washington's efforts to end the war in Ukraine.

Gold was little changed as traders weighed US-led efforts to end the war in Ukraine, and counted down to the Federal Reserve’s annual Jackson Hole gathering, which may yield hints on possible rate cuts.