🔹 Technical Outlook
* Price is currently sitting around $3,335, consolidating between support at \$3,334–\$3,337 and resistance near \$3,350–\$3,355.
* If bulls defend the $3,334–$3,336 zone, we could see another push toward $3,357 → \$3,364, with a larger breakout targeting $3,397–\$3,399.
* A breakdown below $3,334 opens the door to deeper downside toward $3,320–\$3,310.
🔹 Fundamental Drivers (This Week’s Events)
* China Loan Prime Rate (Wed): Any surprise cuts could weaken risk sentiment, potentially giving gold a short-term safe-haven boost.
* NZD Rate Decision (Wed): Hawkish RBNZ could strengthen USD indirectly (via risk-off), pressuring gold lower.
* UK CPI (Wed): High inflation print may support GBP, but global risk tone will matter more.
* FOMC Minutes + Waller Speech (Wed/Thu):Key for USD. If Fed tone stays hawkish, XAUUSD may face downside pressure.
* US Job Data & Housing (Thu): Weak numbers could weaken USD and lift gold short-term.
* Jackson Hole Symposium (Thu–Fri): Biggest wildcard. Powell’s tone will likely set gold’s next big move. A dovish tilt = 🚀 upside toward \$3,399. A hawkish stance = ⚠️ downside toward \$3,320.
🔹 Sentiment Summary
Gold is in a make-or-break consolidation zone.
* Bullish case: Hold above \$3,334 → Break \$3,355 → Target \$3,364 and \$3,399.
* Bearish case: Lose \$3,334 → Accelerated drop toward \$3,320–\$3,310.
The Jackson Hole Symposium is the key event — traders should expect **volatility spikes late in the week.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.