Gold prices fell to around $3,338 per ounce on Thursday (August 21st). Gold fell slightly as the US dollar strengthened and yields rose, but the decline was contained ahead of the release of US data and Jerome Powell's speech at Jackson Hole. A "wait-and-see" stance prevented further selling from becoming widespread.
Technically, the bias remains bearish as long as intraday resistance remains unbroken. Monitor nearby support: a hawkish tone supports a sell-on-rally scenario, while a dovish tone could potentially trigger short-covering and a rapid rebound.
The gold price at the time of writing was at $3,338/Toz.
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Consider fundamental and technical developments in trading before making investment decisions.
Source: Newsmaker.id
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