Gold price update for Friday, August 22, 2025: Gold stays under $3,400 before Powell’s speech

Gold Futures Update

Gold futures began trading at $3,383.30 an ounce on Friday, marking a 1.4% increase from Thursday’s closing price of $3,336.90. Prices have remained below the $3,400 mark since August 8th.

At the Jackson Hole Economic Policy Symposium, Federal Reserve Chair Jerome Powell is set to discuss the Fed’s outlook, particularly regarding the federal funds rate, which has been above 4% since December 2022. The last cut to interest rates took place in December 2024. Powell indicated that rates are expected to remain stable until there’s more clarity on the economic impact of the new US tariff policies. Currently, the CME FedWatch shows a 69.3% likelihood of interest rate cuts in September, a drop from 85.4% the previous week.

As interest rates decline, it makes alternatives like gold appear more appealing. However, lower rates could also draw interest towards stocks, which benefits from decreased borrowing costs.

The Friday opening price for gold futures reflects a 1.4% rise compared to Thursday’s close, while it sits 1.1% higher than the rate of $3,346.80 recorded the week before August 15th. Over the past month, prices dipped by 0.8% since July 22, 2025.

It’s worth noting that you can track gold prices around the clock through various finance platforms.

Thinking about performance? For details on leading companies in the gold sector, platforms offer screening tools to help you sift through the top performers using a variety of criteria.

Next time you visit Costco, you might consider picking up a gold bar along with your rotisserie chicken. Surprisingly, some Club Stores are now selling gold bars, silver coins, and platinum bars—three metals that many investors use to diversify their portfolios.

Club Stores began offering gold bars in 2023 and expanded to silver and platinum in the following year. This comes as gold prices soar, with all three metals seeing over a 22% increase thus far in 2025.

If precious metal investment piques your interest, there’s plenty to explore about Costco’s offerings and strategies for managing these investments effectively.

Whether you’re looking back on last month or even last year, historical charts reveal a steady upward trend for valuable metals.

Gold has gone through lengthy cycles of growth and decline over time. Between 2009 and 2011, it was on an upswing before entering a lengthy downturn that lasted almost a decade without breaking new highs.

During those stagnant years, your investment position could negatively impact overall returns. If this is a concern, perhaps a lower allocation might work better for you. However, if you’re okay with a little underperformance in gold for the chance to gain more in a positive year, aiming for a higher allocation could be worthwhile.

Recent news has caught the attention of many analysts, and there’s a general optimism surrounding gold. A Goldman Sachs survey from May predicted that gold could hit $3,700 per troy ounce by 2025, implying about a 40% increase annually based on a January 2nd opening price of $2,633. Central bank demand seems to be a key driver, especially amidst uncertainties regarding US tariff policies.