$Gold.com(GOLD.US)
🏆 [Weekly] Gold Review :Strong Momentum, Pullback Risk & Big Catalysts This Week
🔷 Technical Snapshots:
🟢 Daily
Gold at $4,602.99 has rebounded sharply from below $4,000 and is now testing the upper Bollinger Band. RSI is 63.54.
A strong bullish momentum and not overbought.
🟢 1 Hourly:
Short-term trend is steep and riding the upper band, RSI hit 72.12 overbought.
Expect a pause or small pullback before moving higher.
📰 Key Drivers
1️⃣ Weak US Dollar: DXY falling makes gold cheaper for global buyers — lifting demand.
2️⃣ Falling Yields: Gold shines when real yields drop, lowering the cost of holding it instead of bonds.
📅 Big Week Ahead (Aug 24–28)
🟢 Wed: Q2 GDP + PCE inflation — moves rate expectations instantly
🟢 Thu: Jackson Hole — Fed Chair’s speech = the week’s biggest catalyst
These events will set the tone for yields, the dollar and gold’s next big move. 😊 Huat lah 😆.
Not financial advice. Do your own DD😊.
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