There has been a slight recovery

Gold prices struggled to capitalize on the previous day's positive move and hovered in a tight trading range below the $1,900 mark during Tuesday's Asian session. For now, XAU/USD appears to have redressed recent losses over the past 4 weeks, to its lowest level since March 2023, around the area of ​​$1,885 touched last Thursday as Traders The epidemic is eagerly waiting for more signals on the Federal Reserve's policy outlook. ). .

As a result, markets will remain focused on the Jackson Hole Symposium later this week, where comments by Fed Chairman Jerome Powell will be scrutinized for signals on the path of future rate hikes. futures of the Fed. This will play an important role in determining the short-term direction of the unprofitable Gold price.