Gold prices reacted little to Federal Reserve Chair Janet Yellen’s comments at the Jackson Hole event Friday and now investors have turned their attention to European Central Bank president Mario Draghi’s speech, scheduled for later in the day. Gold slightly picked up steam as the U.S. dollar fell under pressure following Yellen’s prepared remarks, which had no mention of U.S. monetary policy or the country’s economy. To Kitco’s senior market analyst Jim Wyckoff, the same lack of excitement could be expected from the European central banker. ‘The sense of the marketplace is that Draghi will not tip his hand on anything significant, he’ll probably wait until the next ECB meeting, so I suspect that there won’t be much volatility,’ Wyckoff told Kitco News. Despite this, he remains optimistic on gold and silver prices in the near term. ‘I suspect gold will remain range bound today and probably all next week ahead of the U.S. labor day holiday,’ he said. ‘But the path of least resistance for silver and gold is sideways to higher given the bullish technical posture in a near-term basis.’