🥇 XAUUSD — PCE + Jackson Hole Analysis
Bias: Neutral → Bearish below $4,700
📊 Why Gold fell:
Core PCE remained sticky at 3.3% YoY, keeping inflation above the Fed’s 2% target.
U.S. GDP was revised higher to 3.6%, showing resilient economic growth.
Stronger USD created additional pressure on Gold.
Gold rejected the $4,700 resistance and fell around 1.5%.
🚨 Main Event: Fed Chair Kevin Warsh's Jackson Hole speech on Friday could trigger the next major move.
🔴 Bearish Scenario
If Warsh sounds hawkish, USD could strengthen further and Gold may continue lower.
Key supports:
➡️ $4,500
➡️ $4,458
➡️ $4,515
➡️ $4,400–$4,436
🟢 Bullish Scenario
If Warsh sounds dovish and signals that inflation is gradually cooling, USD could weaken and Gold may retest $4,700.
A clean breakout above $4,700–$4,713 could open the way toward $4,918 and potentially $5,000.
⚠️ Bottom line: Gold is under pressure after the sticky PCE and strong U.S. growth data, but Jackson Hole remains the key catalyst. Expect high volatility and avoid chasing moves before confirmation.
farah khan