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Consolidating At Highs, Awaiting Jackson Hole Symposium

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Gold is slightly lower in today’s Asia-Pacific session, following Monday’s fluctuation around the $2,500 mark as it consolidates near all-time highs.

  • With little on the data/news flow front, the market’s attention has already turned to the KC Fed-hosted Jackson Hole economic symposium "Reassessing the Effectiveness and Transmission of Monetary Policy," which will be held Aug. 22-24. Fed Chairman Powell speaks at 1000ET Friday morning.
  • Before then, the US calendar will see the FOMC minutes, jobless claims and PMI data.
  • According to MNI’s technicals team, the technical break above $2483.7, the Jul 17 high and the bull trigger resumes the uptrend. The initial target of note is $2528.4, the 3.00 projection of the Oct 6 - 27 - Nov 13 price swing.
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Gold is slightly lower in today’s Asia-Pacific session, following Monday’s fluctuation around the $2,500 mark as it consolidates near all-time highs.

  • With little on the data/news flow front, the market’s attention has already turned to the KC Fed-hosted Jackson Hole economic symposium "Reassessing the Effectiveness and Transmission of Monetary Policy," which will be held Aug. 22-24. Fed Chairman Powell speaks at 1000ET Friday morning.
  • Before then, the US calendar will see the FOMC minutes, jobless claims and PMI data.
  • According to MNI’s technicals team, the technical break above $2483.7, the Jul 17 high and the bull trigger resumes the uptrend. The initial target of note is $2528.4, the 3.00 projection of the Oct 6 - 27 - Nov 13 price swing.