Gold Price Surge Fueled by Powell’s Hints of Rate Decrease

Gold prices surged to new highs on August 22nd, 2025, following Federal Reserve Chairman Jerome Powell’s comments at the Jackson Hole Economic Symposium. Powell’s remarks hinted at a potential September interest rate decrease as economic conditions and labor market data improved. This fueled a spike in gold prices, pushing the price of gold to almost $3,370 an ounce as the US dollar weakened and Treasury yields decreased.