XAUUSD await Powell's speech at Jackson Hole
Gold price (XAU/USD) demonstrates a rangebound perfomance as investors await Federal Reserve (Fed) Chair Jerome Powell's speech at the Jackson Hole Symposium for further guidance or discuss the benefits of keeping interest rate guidance or discuss the benefits of keeping interest rates unchanged for a longer period. Market participants would also like to know how much longer the Fed will keep interest rates elevated.
Gold price demonstrates a volatility contraction phase above $1,910.00 ahead of the Jackson Hole Symposium. The precious metal struggles to continue its five-day winning spell amid a recovery in US Treasury yields. The yellow metal tussles with resistance to climb above the 20-day Exponential Moving Average (EMA) around $1,915.00 but has broken confidemtly above the 200-day EMA.
The Relative Strength Index (RSI) (14) has climbed into the 40.00-60.00 range, which indicates that the bearish impilse has faded.
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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.