Prices for gold were lower on Friday, after a speech from U.S. Federal Reserve Chair Janet Yellen in Jackson Hole, Wyoming. Investors were also awaiting European Central Bank President Mario Draghi later in the day, in case he provides any new advice on monetary policy.
Gold is highly sensitive to rising interest rates, as these increase the opportunity cost of holding non-yielding bullion, while boosting the U.S. dollar
Spot gold was down 0.1% at $1,285.47 U.S. an ounce, after slipping nearly 0.3% in the previous session.
U.S. President Donald Trump on Thursday engaged in a new battle with other Republicans, saying congressional leaders could have avoided a "mess" over raising the U.S. debt ceiling if they had taken his advice, further shaking prices for the shiny yellow metal Gold is used as an alternative investment during times of political and financial uncertainty.
Silver edged up 0.25% to $16.97 U.S. an ounce, while platinum fell 0.6% at $972.99 U.S. an ounce.
Palladium was flat at $930.47 U.S. per ounce, after earlier touching its highest in 16 years at $940.50 U.S. The metal has gained 1.2% so far in the week.
