gold and silver prices softened for a fourth straight day on wednesday as traders bet that the federal reserve is likely to keep benchmark interest rates higher for longer following fed chairman jerome powell’s jackson hole speech last friday meanwhile gold is set to finish august with its 5th straight monthly decline its worst streak in four years   gold futures gcz22 for december delivery were down 1320 or 08 to 1710 per ounce on comex according to factset data   silver futures siz22 for december delivery retreated 42 cents or 22 to 1788 per ounce   palladium prices paz22 were down 580 or 03 to 2082 per ounce while platinum prices plv22 shed 280 or 03 to 829 per ounce   copper prices hgz22 shed 8 cents or 23 to 337 per pound what analysts are saying analysts blamed powell’s speech on friday for driving treasury yields and the dollar higher which have dulled the luster of the yellow metal “the catalyst for gold’s reversal in fortunes was the switch in policy by the federal reserve to a more hawkish monetary policy in april that has resulted in a series of interest rate hikes in recent months as well as a reduction of the amount of the debt it holds” said rupert rowling a market analyst for kinesis money the twoyear treasury yield tmubmusd02y was up two basis points or 04 to 3470 touching a new 15year high while the ice dollar index dxy  a gauge of the dollar’s strength against a basket of rivals was up 02