8.28 Gold Morning Analysis
Tonight, the Jackson Hole annual symposium will bring its core highlight as the Federal Reserve Chair is set to deliver a speech. Prior PCE inflation data came in hotter than expected; the market broadly expects that the Fed rate-cut cycle may be delayed. During the early session, funds remained cautious, and price action continued to trade in a range. A clear direction will require waiting for the speech to play out in the evening.
From the chart perspective: after gold dipped to support at 4565, it quickly attracted bargain buying and consolidation has formed a short-term trading range.
The first resistance overhead is 4622–4630; only after an effective break will there be a further attempt to test 4650. On the downside, support is mainly concentrated at 4580–4585, with 4565 serving as the key line that defines short-term strength versus weakness.
Trading suggestions:
On rebounds into the 4622–4635 zone, set up short positions. The primary target is 4585–4580. If support breaks down, prices may further decline toward 4560–4530.
Tonight, the Jackson Hole annual symposium will bring its core highlight as the Federal Reserve Chair is set to deliver a speech. Prior PCE inflation data came in hotter than expected; the market broadly expects that the Fed rate-cut cycle may be delayed. During the early session, funds remained cautious, and price action continued to trade in a range. A clear direction will require waiting for the speech to play out in the evening.
From the chart perspective: after gold dipped to support at 4565, it quickly attracted bargain buying and consolidation has formed a short-term trading range.
The first resistance overhead is 4622–4630; only after an effective break will there be a further attempt to test 4650. On the downside, support is mainly concentrated at 4580–4585, with 4565 serving as the key line that defines short-term strength versus weakness.
Trading suggestions:
On rebounds into the 4622–4635 zone, set up short positions. The primary target is 4585–4580. If support breaks down, prices may further decline toward 4560–4530.
