Gold steadies above $3,331 as traders eye Fed minutes and Powell’s Jackson Hole speech, while silver consolidates near $38 awaiting breakout signals.

Gold prices edged higher on Tuesday, buoyed by a weaker dollar amid prospects of lower U.S. interest rates, while investors looked ahead to the Federal Reserve chair's speech at Jackson Hole later this week.

Check here for gold and silver prices in your city today, August 20: Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Retail customers must note that jewellers may add making charges, taxes, and GST to the bill, which could hike the final price.

Gold held a small decline ahead of a key address by Federal Reserve Chair Jerome Powell later this week, which may give fresh clues on the central bank’s monetary path.

Gold prices fell on Thursday as hotter-than-expected U.S. inflation data and a drop in jobless claims lifted the dollar and Treasury yields, trimming the odds of a supersized September rate cut.

Gold prices were lacklustre on the MCX following a meeting between US and Ukrainian leaders, raising hopes for an end to the Russia-Ukraine conflict.

UBS raises its 2026 gold price forecast to $3,700, citing US economic pressures, Fed policy, and strong central bank demand.

UBS has raised its gold (XAUUSD:CUR) price forecasts, lifting the end-March 2026 target to $3,600/oz from $3,500/oz and the end-June 2026 target to $3,700/oz (also from $3,500/oz).

Gold prices held steady on Friday, but were headed for a weekly loss after hot inflation data trimmed rate-cut bets, while the market focus shifted to talks between U.S. President Donald Trump and his Russian counterpart Vladimir Putin.