Gold Settles Lower on Warsh Concerns About Inflation

Gold prices settled lower following a hawkish speech delivered by Warsh at the Jackson Hole symposium. The market reacted sharply to Warsh's expressed concerns regarding inflation, which triggered a downward trend for the precious metal. Investors responded to the signals of a tighter monetary policy stance, leading to a significant decline in gold valuations. The speech served as the primary catalyst for the price drop as inflation worries dominated the financial discourse.