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Gold Slipped On Monday As The Dollar Steadied

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Gold slipped on Monday as the dollar steadied near a more than one-week high, while investors awaited Federal Reserve Chairman Jerome Powell’s speech at Jackson Hole later this week for clarity on the direction of U.S. monetary policy.The dollar index held steady against a basket of major currencies after climbing to a more than one-week high in the previous session. Powell will discuss monetary policy on Thursday at the opening day of the Kansas City Fed’s annual symposium. Top Democrats and Republicans blamed each other for stalled talks on coronavirus aid legislation on Sunday, a day after the House of Representatives approved $25 billion in new funds for the U.S. Postal Service.Speculators raised their bullish positions in COMEX gold and silver contracts in the week to Aug. 18, the U.S. Commodity Futures Trading Commission said on Friday. Physical gold dealers in India last week offered the highest discounts in more than a month and a half, as buyers stayed away even as more bullion flowed in from the United Arab Emirates.

TREND : WEAK BULLISH / SIDEWAYS

Time                                      :           24/08/2020

Pivot                                      :           1934.11

Technical View                     :             LONG ABOVE 1936.57

Target                                   :            1939.04, 1946.03, 1950.58

Technical View                     :             SHORT BELOW 1930.61

Target                                   :            1927.11, 1922.65, 1915.56

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