Gold's 13% Monthly Rally Pauses Ahead of Jackson Hole

Spot gold climbed about 13% in under a month, from roughly $4,105 on July 30 to $4,680.70 on August 24 — a three-month high — as softening Fed rate-hike expectations dragged Treasury yields and the dollar lower. Gold slipped August 25 as yields and oil prices rose. Fed Chair Kevin Warsh speaks Friday at Jackson Hole (Aug. 27–29), themed "Financial Innovation: Implications for Payments and Policy."