Gold (XAUUSD) Value Forecast: $3310.48 in Play as Market Awaits Powell’s Sign…

From a weekly chart perspective, $3310.48 stays the battleground. Gold has been straddling this midpoint since early Might, and so long as that degree holds, consumers nonetheless have the sting. A sustained transfer increased may ignite a rally towards the dual tops at $3439.04 and $3451.53, with the $3500.20 all-time excessive in sight if momentum accelerates.

On the flip aspect, a weekly shut under $3310.48 exposes draw back targets at $3268.12 and $3244.41. Under that, the key assist rests at $3120.76, with $2949.56 because the deeper long-term goal.

Subsequent Week: Jackson Gap Might Break the Stalemate

The main target now turns to Fed Chair Powell’s remarks at Jackson Gap on Friday, August 22 (14:00 GMT). If he alerts flexibility or concern about development dangers, gold may surge off the weekly pivot and goal increased resistance ranges. But when he reaffirms confidence in inflation management, sellers could press for a break under $3310.48. Extra doubtless than not, gold stays caught in vary till Powell offers it a cause to maneuver.

Extra Data in our Financial Calendar.