Gold prices have experienced a notable decline from record highs, with traders closely monitoring revisions in U.S. job data and preparing for Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole symposium. The yellow metal recorded its largest daily drop of the month as market participants brace for insights from Powell, which could influence future monetary policy. Despite the recent retreat, analysts maintain a long-term bullish outlook on gold, suggesting that the fundamentals supporting the metal remain intact. The anticipation surrounding Powell's address has also impacted related markets, as gold miners contributed positively to London's FTSE 100 index.