The anticipated 2% price swing around Powell’s speech suggests slightly higher volatility than the average daily volatility of 1.52%, which is derived from the 30-day realized volatility of 29%.

Follow all the developments around Federal Reserve Chairman Jerome Powell's Jackson Hole speech and analysis of what it means for the economy and your money.

Powell is set to deliver what almost certainly will be his last keynote address at the central bank's annual conclave.

Gold edged down as investors awaited the Federal Reserve’s Jackson Hole gathering for clues on the path for US interest rates.Bullion traded around $3,340 an ounce, paring some of the gains made on Wednesday when President Donald Trump’s call for Fed Governor Lisa Cook to resign bolstered haven demand.