Investing.com - Gold prices were little changed on Friday, as investors remained cautious ahead of comments by Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi at Jackson Hole later in the day.
Comex gold futures were steady at $1,292.06 a troy ounce by 03:00 a.m. ET (07:00 GMT).
Neither Yellen nor Draghi were expected to announce new policy messages later Friday, but market participants will be eyeing any potential hints on future policy moves.
Gold prices had benefited from a weaker dollar earlier in the week, after U.S. President Donald Trump said he would be willing to shut down the government to finance a wall along the U.S.-Mexico border and that he might terminate the NAFTA trade treaty.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 93.26.
The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.
Market participants were also looking ahead to U.S. reports on durable goods orders, due later in the day.
Elsewhere on the Comex, silver futures were steady at $16.96 a troy ounce.