Gold prices today, Friday, August 28, 2026: Gold steady as markets prepare for Warsh speech

On Friday, August 28, 2026, gold prices remained relatively stable at $4,650.90 per troy ounce, only slightly dropping by 0.2% from Thursday's closing price. This steadiness is attributed to the upcoming Warsh speech, which could potentially impact gold's future trajectory. As the Federal Reserve prepares for a possible decision on interest rates, gold prices have been hovering in a holding pattern.

If interest rates stay unchanged, gold may experience growth, as it does not generate interest income. However, any increase in interest rates could negatively affect gold's value. Experts have varying opinions on the ideal gold allocation in a diversified portfolio, ranging from 0% to 20%. Some advocate for a higher exposure to gold, citing its inflation-hedge properties and ability to retain purchasing power during times of currency devaluation.