Near the Fed Chairman Powell's speech at the annual meeting in Jackson Hole, the market is still widely expected Powell will deliver hawkish language, the dollar shock higher, recovered some of Thursday's losses, although the current gold prices are also subject to a bit of geopolitical situation triggered by safe-haven buying support, but the overall view, gold prices after the market slightly biased shock to the downside.

In addition to Fed Chairman Powell's speech, investors also need to pay attention to the performance of the U.S. PCE data for July, and pay attention to the speeches of central bank officials in other countries, and pay attention to news related to the geopolitical situation.

Daily level: oscillating; MACD slight dead cross, KDJ slight golden cross, mean intertwined, short-term trend variables, given that gold prices are still under pressure below the Bollinger mid-rail, the market is still slightly biased towards oscillating downward, initial support in the 5-day SMA near 1750.25, August 24 low support near 1742.32, if it falls back below this position, it will increase the short-term bearish signal. Further support is near this week's low at 1727.69, with lower Bollinger support near 1715.51.