Forex Gold Analysis Gold Market Analysis: Continuous Lower Bottom Adjustment Trend Gradually Emerges, Intensifying Short-Term Volatility

      internationalSpot goldMonday (August 21) ended up volatile, opening at $1,888.92/Ounce, the highest price was $1898.59/ounce, the lowest price was $1884.61/ounce, and the closing price was $1888.97/ounce.

　　Due to the lack of data and major events, the overall volatility of gold trading on Monday was limited, and it continued to fall into a narrow range of saw-saw trading conditions. The San Francisco Fed research report shows that the views of Federal Reserve officials on the direction of interest rates are no longer as consistent as they used to be. This shift could lead to more intense debate or an increase in the number of dissenters. This disagreement is particularly related to different views on the future path of inflation. A recent survey showed that rising financing costs are the most concerned credit issue for small business owners in the United States. According to the National Federation of Independent Business (NFIB) survey, 58% of small business owners who borrowed or tried to borrow said that high interest rates are their biggest complaint when it comes to accessing financing. To this end, this week's Global Central Bank Symposium in Jackson Hole, Wyoming, will greatly attract the attention of investors. The symposium, which brings together global economic policymakers, will "help clarify the likely path of monetary policy by major central banks toforeign exchange marketProvide more direction and help determine the direction of gold prices in the short to medium term. As Federal Reserve Chairperson Jerome Powell will speak at the annual Jackson Hole symposium, as usual, everyone is particularly curious to know what Federal Reserve Chairperson Powell (scheduled to speak on Friday) is likely to say. If Powell makes any softening tone about the future direction of monetary policy at the meeting, it is expected to stimulate an oversold rally in gold. Instead, it will continue to weigh on gold to find more solid support levels.

　　From a technical standpoint,FXTThe foreign exchange pointed out that the daily line recorded a small positive line, ending nearly 5 consecutive trading days of closing and falling performance. The current gold price stabilized below the daily moving average pressure level. The short-term rebounded slightly but did not change the bearish arrangement of the daily technical indicators. With the expansion of the rebound range, the daily RSI will likely get rid of the phased oversold price pattern. The hourly line shows that the current gold price has gradually stabilized above the hourly technical indicator support price. The current consolidation trend intensifies the hourly moving average. The upward cross arrangement of the hourly moving average maintains a short-term guidance reference. The continuous downward bottom adjustment trend gradually emerged, exacerbating the short-term volatility trend.