2019.08.2306:25:00UTC+00Gold Dips Ahead Of Powell's Speech

Gold drifted lower on Friday and remained on track to post its first weekly decline in four as investors awaited further guidance about whether the U.S. Federal Reserve will cut interest rates in September.

Spot gold edged down 0.1 percent to $1,497.04 an ounce, while U.S. gold futures were down 0.15 percent at $1,506.55.

Fed Chairman Jerome Powell will speak later today at Jackson Hole, Wyoming, after minutes of the most recent Fed meeting failed to point to further rate cuts down the road.

According to meeting minutes released earlier this week, Fed officials who voted to lower interest rates three weeks ago noted that the move shouldn't be viewed as an indication that there is a "pre-set course" for future cuts.

Two U.S. Federal Reserve officials on Thursday said they see no need for an interest-rate cut next month as further easing could pose risks to financial stability.

The U.S. dollar held firm today ahead of the closely watched financial symposium in Jackson Hole, Wyoming.