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Daily brief · Thursday, August 21, 2025

Gold ends lower, silver higher as markets wait for Powell at Jackson Hole

Gold finished slightly lower while silver rose, with most coverage pointing to Fed policy expectations and a firmer dollar as the main drivers. Several reports said traders stayed cautious ahead of Chair Powell’s Jackson Hole remarks, while physical-demand and flow stories (India, Switzerland) stayed in focus.

AI summaryWritten automatically with AI from 26 linked reports and our own price data, Oct 21, 2:05 AM ET. Each point links to its sources. Published without an editor’s review; not investment advice. How this page is made

Closing prices for August 21, 2025

Gold $3,338.30 −0.19% 30d −2.1% Silver $37.57 +1.32% 30d −3.3% Platinum $1,331.00 −0.52% 30d −8.1% Palladium $1,110.00 −1.51% 30d −12.7%

Tone of the reports: Mixed

What happened

  1. Reuters said gold was little changed to lower as investors waited for Powell’s remarks at Jackson Hole and watched the dollar’s tone.

    SourcesReuters: Gold little changed as investors await Powell's remarks at Jackson ...2: Gold falls as dollar firms; focus on Jackson Hole meeting

  2. Investing.com tied the day’s pressure in gold and the broader precious-metals complex to hawkish Fed minutes and a firm dollar ahead of Jackson Hole.

    SourcesInvesting.com: Gold prices dip as hawkish Fed minutes weigh ahead of Jackson ...

  3. Kitco said gold briefly pushed above $3,345 after worse-than-expected U.S. weekly jobless claims, but later coverage still framed trading as Jackson Hole-driven (gold weaker, silver up).

    SourcesKitco News: Spot gold trades above $3,345/oz after U.S. weekly jobless claims ...2: Gold a bit weaker, silver up, as Jackson Hole in focus

  4. Reuters reported Atlanta Fed President Bostic still expects a single rate cut this year, while noting uncertainty.

    SourcesReuters: Fed's Bostic still sees a single rate cut this year, amid uncertainty

  5. Bloomberg reported Switzerland’s gold exports surged in July, highlighting trade-war tensions and the U.S. trade relationship angle around bullion flows.

    SourcesBloomberg: Switzerland's Gold Export Surge Highlights Its US Trade Dilemma ...2: Trade War Latest: Christmas Trees and Tariffs - Bloomberg

  6. Kitco reported WGC commentary that India’s gold market strengthened in July as ETF holdings and imports surged, and a separate report said India’s festive season is fueling a revival in jewellery demand.

    SourcesKitco News: India’s gold market strengthened in July as ETF holdings and imports surged – WGC’s ChackoEarlier news service: INDIA : Festive season fuels revival in Indian gold jewellery market

Bull vs bear

The arguments the day’s reports made for each direction. We list them side by side; we don’t pick one.

The case for higher prices

The case for lower prices

What to watch

  • UpcomingPowell Jackson Hole remarksMultiple reports said traders were positioning cautiously ahead of Powell for clues on the Fed path, with the dollar and gold reacting to rate expectations.
  • UpcomingJackson Hole meetingReuters and others said the event is the main near-term focus for Fed signaling, influencing the dollar and precious-metals pricing.

Metal by metal

Gold $3,338.30 −0.19%

Coverage centered on Fed expectations and the dollar ahead of Powell’s Jackson Hole remarks (Reuters; Investing.com). On the physical/flows side, Bloomberg highlighted a surge in Switzerland’s gold exports, and Kitco cited WGC saying India saw stronger July conditions with higher ETF holdings and imports; an import report also pointed to festive-season jewellery demand in India.

Gold headlines

Silver $37.57 +1.32%

Kitco noted silver was up while Jackson Hole remained the main focus, but there was limited additional reporting on silver-specific drivers in today’s packet.

Silver headlines

Platinum $1,331.00 −0.52%

No report focused on platinum.

Platinum headlines

Palladium $1,110.00 −1.51%

No report focused on palladium.

Palladium headlines

The day’s reports

The 40 most important of 47 reports, New York time.

  1. 8:00 PM Earlier news service · 8:00 PM SUDAN restricts gold trade as currency falls: What to know Sudan is restricting gold trade as its currency continues to fall.
  2. 1:13 PM Kitco News · 1:13 PM▲ Reports a rise India’s gold market strengthened in July as ETF holdings and imports surged – WGC’s Chacko WGC’s Chacko says India’s gold market strengthened in July as ETF holdings and imports surged.
  3. 9:57 AM Investing.com · 9:57 AM▼ Reports a fall Gold prices dip as hawkish Fed minutes weigh ahead of Jackson ... Gold prices fell as hawkish Fed minutes and a firm dollar pressured the broader precious-metals market ahead of Jackson Hole.
  4. 9:57 AM Kitco News · 9:57 AM▲ Reports a rise Spot gold trades above $3,345/oz after U.S. weekly jobless claims ... Kitco says gold rose above $3,345 an ounce after worse-than-expected U.S. weekly jobless claims.
  5. 9:57 AM Bloomberg · 9:57 AM Switzerland's Gold Export Surge Highlights Its US Trade Dilemma ... Bloomberg says Switzerland's gold export surge is highlighting tensions in its trade relationship with the U.S.
  6. 2:24 AM Reuters · 2:24 AM Gold little changed as investors await Powell's remarks at Jackson ... Gold was little changed as investors awaited Powell’s remarks at Jackson Hole.
  7. 9:24 PM Action Forex · 9:24 PM▲ Reports a rise Gold (XAU/USD) Eyes $3383/oz After Bullish Pennant Breakout. Will Fed Chair Powell Add Fuel to the Rally? Gold is testing higher levels after a bullish pennant breakout ahead of Jackson Hole and geopolitical developments.
  8. 8:00 PM Earlier news service · 8:00 PM▼ Reports a fall Gold slips as dollar firms ahead of Powell's Jackson Hole speech Gold is slipping as the dollar strengthens before Powell's Jackson Hole speech.
  9. 8:00 PM Earlier news service · 8:00 PM▲ Reports a rise INDIA : Festive season fuels revival in Indian gold jewellery market India's festive season is fueling a revival in the gold jewellery market.
  10. 8:00 PM Earlier news service · 8:00 PM▼ Reports a fall Gold edges down on stronger dollar, Powell’s remarks in focus Gold edges lower as the dollar strengthens and Powell's remarks come into focus.
  11. 8:00 PM Earlier news service · 8:00 PM ASIA : Volatile prices stifle gold demand in top Asian hubs Volatile prices are stifling gold demand in major Asian hubs.
  12. 8:00 PM Earlier news service · 8:00 PM▼ Reports a fall CHINESE Insurers Put Pressure on the Gold Market Chinese insurers are putting pressure on the gold market.
  13. 8:00 PM Earlier news service · 8:00 PM WHY GOLD PRICES STAY HIGH DESPITE TRADITIONAL MARKET SIGNALS The article argues that gold prices are staying elevated despite signals that usually weigh on the metal.
  14. 8:00 PM Earlier news service · 8:00 PM▼ Reports a fall Gold Extends Losses Gold prices are falling.
  15. 8:00 PM Earlier news service · 8:00 PM NIGERIA : Terrorists Using Gold To Fund Operations, Says Defence Chief Nigeria says terrorists are using gold to fund their operations.
  16. 1:45 PM Kitco News · 1:45 PM Harvard endowment fund takes $218M bet on gold and bitcoin combined in first-ever positions Harvard’s endowment made its first-ever combined bets on gold and bitcoin, totaling $218 million.
  17. 11:44 AM Reuters · 11:44 AM Fed's Bostic still sees a single rate cut this year, amid uncertainty Reuters reports Atlanta Fed President Bostic still expects one rate cut this year.
  18. 11:14 AM Kitco News · 11:14 AM Gold a bit weaker, silver up, as Jackson Hole in focus Kitco says gold was a bit weaker while silver rose as markets watched Jackson Hole.
  19. 10:06 AM Reuters · 10:06 AM▼ Reports a fall Gold falls as dollar firms; focus on Jackson Hole meeting Reuters says gold fell as the dollar strengthened and traders focused on Jackson Hole.
  20. 10:00 AM Kitco News · 10:00 AM▲ Reports a rise Spot gold spikes to $3,345/oz after U.S. existing-home sales rise 2.0% in July Kitco says spot gold jumped to $3,345 an ounce after U.S. existing-home sales rose 2.0% in July.
  21. 9:57 AM Yahoo Finance · 9:57 AM▼ Reports a fall Gold Eases With Focus on Jackson Hole Meeting for Fed Clues Yahoo Finance reports gold eased as traders looked to Jackson Hole for clues on the Fed outlook.
  22. 9:57 AM MINING.COM · 9:57 AM▲ Reports a rise Australia's biggest gold miner sees prices supported next year ... MINING.COM says Australia's biggest gold miner expects prices to stay supported next year despite higher costs and capital needs.
  23. 9:57 AM Bloomberg · 9:57 AM▲ Reports a rise Trade War Latest: Christmas Trees and Tariffs - Bloomberg Bloomberg reports Swiss gold exports surged in July amid trade war developments.
  24. 9:56 AM Earlier news service · 9:56 AM Peru's gold exports to China through June overtake all 2024 Peru's gold exports to China through June surpassed all of 2024.
  25. 9:56 AM Earlier news service · 9:56 AM Gold holds steady as investors await Fed remarks at Jackson Hole Gold held steady as investors waited for Federal Reserve remarks at Jackson Hole.
  26. 9:45 AM Kitco News · 9:45 AM▼ Reports a fall Gold price stumbles as S&P flash manufacturing, service sectors rise more than expected in August Kitco says gold prices stumbled after U.S. manufacturing and services readings came in stronger than expected.
  27. 9:13 AM The Economic Times · 9:13 AM▼ Reports a fall Gold price today: Gold rate falls big. Will price go down further? The Economic Times reports gold fell sharply and asks whether prices could drop further.
  28. 8:39 AM Kitco News · 8:39 AM Gold price continues to tread water above $3,300 as Philly Fed Survey drops to -0.3 Kitco says gold is holding above $3,300 as the Philadelphia Fed survey falls to -0.3.
  29. 8:05 AM Kitco News · 8:05 AM▼ Reports a fall Gold price weaker as important Fed confab begins Kitco says gold prices are weaker as the Federal Reserve's Jackson Hole meeting begins.
  30. 5:37 AM The Economic Times · 5:37 AM▼ Reports a fall Gold price likely to continue downward trajectory after Rs 1,200 fall in a week. Check target prices Gold futures fell in a week of volatile trading, while silver was nearly flat ahead of Powell's Jackson Hole speech.
  31. 5:16 AM forexcrunch.com · 5:16 AM▼ Reports a fall Gold Price Holds Weak Tone Amid Fed, Geopolitical Risk Gold is under pressure amid Fed and geopolitical risks.
  32. 8:00 PM Earlier news service · 8:00 PM REPORT : The diminishing lustre: Gold's market volatility and the fading safe ha.. The report examines gold market volatility and a fading safe-haven appeal.
  33. 8:00 PM Earlier news service · 8:00 PM▲ Reports a rise A nervous world seeks shelter in GOLD The article says a nervous world is seeking shelter in gold.
  34. 8:00 PM Earlier news service · 8:00 PM MATERION extends $150 million precious metals consignment facility with BMO Materion extends its $150 million precious-metals consignment facility with BMO.
  35. 8:00 PM Earlier news service · 8:00 PM UBS: Stay long silver, buy below this level UBS recommends staying long silver and buying below a stated level.
  36. 8:00 PM Earlier news service · 8:00 PM MONEY METALS Secures $70 Million to Expand Its Gold-Backed Loan Service Money Metals secures $70 million to expand its gold-backed loan service.
  37. 8:00 PM Earlier news service · 8:00 PM Gold vs. Bond Market Crisis: Why This Looks Just Like 2007-2008 All Over Again The piece compares the current gold and bond-market backdrop with the 2007-2008 crisis.
  38. 12:04 PM Kitco News · 12:04 PM U.S. tariffs a "net positive" for mining industry, says Wheaton CEO Randy Smallwood Kitco reports Wheaton's CEO said U.S. tariffs are a net positive for the mining industry.
  39. 11:34 AM MINING.COM · 11:34 AM▲ Reports a rise White Gold update ranks third in Yukon for contained metal MINING.COM says White Gold's Yukon update lifted indicated ounces and improved its contained-metal ranking.
  40. 9:57 AM Investing.com · 9:57 AM Gold: Gann Cycle's Endgame Aligns for Potential Bullish Reversal ... Investing.com says gold may be setting up for a bullish reversal as a Gann cycle ends.

How this page is made

Collected every hour. Summed up twice a day. Linked to the source.

Where the news comes from

  • Reuters and Dow Jones headlines for gold, silver, platinum and palladium, through TradingView
  • Kitco News and MetalsDaily
  • The World Gold Council
  • Google News, for wider coverage
  • A daily AI web search for anything the feeds missed

How the briefs are written

Every hour we collect new headlines. An AI model from OpenAI tags each one by metal, topic and importance and writes a one-line summary from its headline and teaser. It doesn’t read paywalled articles. On weekdays at about 8 AM and after the 5 PM New York close, it writes a brief from the most important reports and our own spot price feed. Every point cites the reports it came from. On Fridays it writes a recap of the week.

Who publishes it

Bullion Trading LLC is a physical precious metals dealer in New York’s Diamond District, in business since 2008. Prices on this page come from our own live feed and LBMA history. We buy and sell bullion, so read the briefs as market context, not investment advice. Briefs are published automatically, without an editor’s review. If you spot an error, tell us.

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