Fundamental News and Triggers

• The Dollar Index is able to maintain stability just below its highest level in more than two months thanks to growing acceptance that the FED will keep interest rates higher for longer, which also serves as a headwind for the price of gold and silver.

 

• Later this week at the Jackson Hole Symposium, where remarks by Fed Chair Jerome Powell will be closely watched for clues about the Fed’s future path of rate hikes, the market’s attention will remain riveted. This will be crucial in determining the non-yielding Goldprice’s short-term trajectory.

Technical Triggers

• Gold prices are consolidating in the range of 58300 to 59600 for the past few days, waiting for a positive trigger.

• Silver has seen wild swings from 70750 to 71750 and it seems prices are forming a base around 70000 level.

Support and Resistance

 

 

 

 

 

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