Gold at a Crossroads



What's Next On GOLD?

After the analysis I posted yesterday, we saw gold peak at 2531.59 and the price depreciated by nearly 1.22%.
The low for yesterday was reached at 2500.68

After 2500 was tested we saw a bullish price reaction because it is a strong psychological price level.

Also today the price is showing slight weakness and a move below 2500 will open the doors for further price decline as shown on the chart.
Immediate support will be found near: 2483; 2464 and 2433

Price just tested 2484.80 after testing a new all-time high on August 20, 2024

The FOMC minutes made it clear again that a rate cut in September is likely
The focus now shifts to the Jackson Hole symposium and Fed Chairman Powell's remarks on Friday. However, Powell doesn't have much to comment on the subject.
So let's see how gold will perform these days.

(Source from: TV-By KlejdiCuni)
JST1,77%
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