Gold Buy Levels Amid Jackson Hole Symposium

20 באוג׳

Last week, we noted that if gold prices traded above $2,479, they could push towards $2,587. This scenario is unfolding as expected, and longer-term traders remain bullish above $2,470.

For short-term traders looking to capitalize if we have a dip, we will focus on focusing the support range between $2,479 and $2,511. If prices reach this interval, buyers may see an attractive risk-to-reward ratio, driving the price towards $2,550 and, in the following weeks, reaching the 2,587 level.

It's crucial to note that Jerome Powell's speech at the Jackson Hole Symposium later this week could trigger significant volatility.

This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information