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Gold Price Weekly Market Summary (AUG 23th, 2025)
Gold (XAU/USD) — Weekly Wrap | Week Ending Aug 23, 2025 (Jackson Hole Week)
1) Prices & Weekly Move
- Spot gold (XAU/USD): $3,373.89/oz at 1:31 p.m. ET (17:31 GMT) Fri, Aug 22, +1.1% on the day after Powell’s Jackson Hole remarks.
- COMEX Dec futures (GCZ5): $3,418.50/oz settlement on Fri, +1.1% on the day.
- Weekly change (London LBMA PM fix): $3,334.25/oz on Aug 22 vs $3,335.50 on Aug 15 → ~-0.04% (virtually flat).
Note: U.S. spot/futures rallied late Friday on Powell’s speech, but LBMA fix is set earlier in the day, providing the cleanest week-over-week benchmark.
2) What Drove the Week
- Jackson Hole — Powell’s “balance of risks” tilt: Markets read his remarks as raising odds of a September cut → USD fell ~1% Friday → Gold rallied (spot +1.1%, futures +1.1%).
- Rate-cut probabilities: CME FedWatch odds for a 25 bp September cut climbed to ~85% post-speech (from ~75%).
- Earlier in the week:
- Tue (Aug 19): Dollar firmed → Spot -0.4% ($3,317.71); Futures -0.6% ($3,358.7).
- Wed (Aug 20): Dollar eased → Spot +0.9% ($3,344.37); Futures +0.9% ($3,388.50).
3) Market Tone by Category
- Dollar & Yields: USD down ~1% Friday; lower yields improved bullion’s appeal.
- Physical/Regional: Asian demand muted during August volatility; activity subdued into Jackson Hole week until Friday’s easing.
- Benchmarks: LBMA PM (Aug 22): $3,334.25 vs Aug 15: $3,335.50.
4) Technical Snapshot
Gold oscillated into Jackson Hole; Powell’s remarks triggered bounce. Key focus: $3,340–$3,380.
A close above ~$3,380 opens path to $3,400+; failure below ~$3,340 reopens range trade.
5) Weekly Reference Table
| Item | Fri Aug 22 (U.S. session) | W/W Change Note |
|---|---|---|
| Spot gold (intra-U.S.) | $3,373.89/oz (+1.1% D/D) | Late-day rally post-Powell drove close higher. |
| COMEX Dec futures settle | $3,418.50/oz (+1.1% D/D) | Same driver: Powell’s tone shift. |
| LBMA Gold PM (benchmark) | $3,334.25/oz | ≈-0.04% W/W (vs $3,335.50 on Aug 15). |
Bottom Line
- Headline: Jackson Hole tone boosted September cut odds, sparking Friday’s U.S. rally.
- Weekly Tally: LBMA benchmark shows gold essentially flat week-over-week due to fix timing vs. late Friday surge.
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Sources
- Bloomberg Terminal
- Reuters
- Investopedia
- Mckvay
- MarketWatch
- DailyForex
- MacroTrends
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- Acuity Knowledge Partners
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- Cboe Global Markets
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