Gold rises 0.5% to $4,615.27 before Fed Chair Warsh remarks
Gold bounced back by 0.5% to $4,615.27 an ounce on Thursday, after a dip earlier this week.
Investors are keeping a close eye on Friday's speech by Federal Reserve Chair Warsh at the Jackson Hole symposium, hoping for hints about where interest rates are headed next, especially since inflation is still running high.
High inflation boosts Fed rate-hike odds
US inflation has stayed above the Fed's 2% target for over five years now.
There's about a 36.5% chance of another rate hike in September, jumping to nearly 72.7% by December.
Since gold doesn't pay interest, higher rates usually make it less attractive, so everyone's waiting to see what the Fed decides.
Meanwhile, silver rose 1%, platinum went up 0.7%, and palladium edged higher too, all reflecting ongoing uncertainty in the global economy.