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.