Gold stays flat as speculation over Ukraine ceasefire, Fed's Jackson Hole meeting caps gains

[stack of shiny gold bars 3d illustration]
monsitj/iStock via Getty Images

Gold futures finished little changed Monday, as investors stayed cautious as President Trump met with Ukrainian and European leaders, and ahead of the Federal Reserve's annual conference in Jackson Hole, Wyoming, this week.

Trump said the U.S. would "help out" Europe in providing security for Ukraine as part of any deal to end Russia's war in Ukraine, and that he hoped to set up a Putin-Zelensky meeting within a week.

Fed Chairman Powell is expected to unveil the Fed's new policy framework on Thursday at Jackson Hole, which could clarify guidance on support for lowering U.S. interest rates in September, as Fed officials have become divided on when to resume rate cuts.

U.S. tariff de-risking and Russia-Ukraine peace talks are among factors capping safe haven demand for gold, Phillip Nova analyst Priyanka Sachdeva said in a note, expecting "lackluster" gold to stay rangebound and sensitive to headlines, with the market toggling between bearish on gold if geopolitical stress eases and bullish if real yields fall.

Friday's Trump-Putin summit raised hopes for a longer-term peace framework and drained some of gold's geopolitical premium, leaving prices choppy, Sachdeva said.

Front-month Comex gold (XAUUSD:CUR [https://seekingalpha.com/symbol/XAUUSD:CUR]) for August delivery finished -0.1% to $3,331.70/oz, the metal's fourth loss in six sessions and its lowest settlement value since July 31, while front-month Comex August silver (XAGUSD:CUR [https://seekingalpha.com/symbol/XAGUSD:CUR]) closed +0.1% to $37.951/oz, its ninth gain in 12 sessions.

ETFs: (NYSEARCA:GLD [https://seekingalpha.com/symbol/GLD]), (NYSEARCA:GDX [https://seekingalpha.com/symbol/GDX]), (NYSEARCA:IAU [https://seekingalpha.com/symbol/IAU]), (NYSEARCA:NUGT [https://seekingalpha.com/symbol/NUGT]), (PHYS [https://seekingalpha.com/symbol/PHYS]), (GLDM [https://seekingalpha.com/symbol/GLDM]), (AAAU [https://seekingalpha.com/symbol/AAAU]), (SGOL [https://seekingalpha.com/symbol/SGOL]), (RING [https://seekingalpha.com/symbol/RING]), (BAR [https://seekingalpha.com/symbol/BAR]), (OUNZ [https://seekingalpha.com/symbol/OUNZ]), (SLV [https://seekingalpha.com/symbol/SLV]), (PSLV [https://seekingalpha.com/symbol/PSLV]), (SIVR [https://seekingalpha.com/symbol/SIVR]), (SIL [https://seekingalpha.com/symbol/SIL]), (SILJ [https://seekingalpha.com/symbol/SILJ])

MORE ON GOLD AND GOLD MINERS

* VanEck Gold Miners ETF: Leveraged Play On Gold In An Uncertain World [https://seekingalpha.com/article/4814268-vaneck-gold-miners-etf-leveraged-play-on-gold-in-an-uncertain-world]
* Gold Forecast: A Really Big Upleg Should Start Soon [https://seekingalpha.com/article/4813842-gold-forecast-really-big-upleg-should-start-soon]
* China Gold Market Update: Official Holdings Rose In July [https://seekingalpha.com/article/4813570-china-gold-market-update-official-holdings-rose-july]