Gold prices fell yesterday in response to the resumption of US dollar growth due to the increase in US bond yields. In addition, investors reacted positively to the minutes of the FOMC meeting which confirmed the regulator's willingness to raise interest rates at the September meeting.
The escalating trade conflict between the United States and China provides more support for the safe dollar of gold. New mutual duties were implemented yesterday, as there was no significant progress in negotiations in Washington.
Today, investors are waiting for Federal Reserve Chairman Jerome Powell's address at the Jackson Hole Symposium. He will report on monetary policy in the changing economy. The market is also waiting for comments by the Chairman of the Regulatory Authority regarding the recent cash statements of President Trump.
In terms of support and resistance
On the daily chart, the Bollinger Bands are constantly dropping. The price range is narrowed slightly above, reflecting the recent opaque trade. The MACD is growing, maintaining the buy signal (the histogram above the signal line). Stochastic is reflected downwards, reflecting the risk of corrective dynamics of excessive gold development.


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