Gold futures for delivery in December 2023 on the Comex New York exchange fell slightly by 1 USD, respectively, down 0.05% to 1,947.1 USD/ounce.
The gold market is back to a visit and mildly volatile as traders await the Federal Reserve's annual symposium to be held in Jackson Hole, Wyoming. The dialogue will take place on Thursday evening.
Meanwhile, the key outside market saw the US dollar index move higher, while Nymex crude oil futures rose slightly and traded around $79.25 a barrel. The US Treasury 10-year benchmark is currently at 4.227%.
While everyone is focused on Federal Reserve Chairman Jerome Powell's upcoming speech at the Jackson Hole Symposium, analysts say that market participants should also keep an eye on "things" such insights and comments from other well-known central banks”, which can also impact the guide price.
“Short-term gold term has been formed at 1,884.83, with D MACD moving above the signal line,” the analysts said, adding that a further rally is in the offing towards the 55D EMA, at $1,932.52 per ounce.
XAUUSD SELl 1920 - 1923🕯
✅ TP1: 1916
✅ TP2: 1910
⚠️ SL: 1930
The gold market is back to a visit and mildly volatile as traders await the Federal Reserve's annual symposium to be held in Jackson Hole, Wyoming. The dialogue will take place on Thursday evening.
Meanwhile, the key outside market saw the US dollar index move higher, while Nymex crude oil futures rose slightly and traded around $79.25 a barrel. The US Treasury 10-year benchmark is currently at 4.227%.
While everyone is focused on Federal Reserve Chairman Jerome Powell's upcoming speech at the Jackson Hole Symposium, analysts say that market participants should also keep an eye on "things" such insights and comments from other well-known central banks”, which can also impact the guide price.
“Short-term gold term has been formed at 1,884.83, with D MACD moving above the signal line,” the analysts said, adding that a further rally is in the offing towards the 55D EMA, at $1,932.52 per ounce.
XAUUSD SELl 1920 - 1923🕯
✅ TP1: 1916
✅ TP2: 1910
⚠️ SL: 1930
