Gold jumps 1% after Powell's remarks22 Aug 2025 17:40
The prices of precious metals rose on Friday, with gold rallying 1% as investors welcomed United States Federal Reserve Chair Jerome Powell's latest speech delivered at the Jackson Hole Symposium.
Powell hinted that lowering interest rates might be on the way, as he commented that adjustments to monetary policy could potentially be needed. This likely heightened appetite for the yellow metal, which is non-interest-bearing.
Gold jumped 1.07% at 10:57 pm ET, going for $3,374.21 per ounce. A minute later, silver surged 2.13%, selling for $38.97 per ounce. At 10:59 am ET, platinum added 0.16% to sell at $1,363.58 per ounce and and palladium advanced by 1.46%, going for $1,114.63 per ounce.
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