Today's short-term resistance is at $4,633; failing to pass it calls for caution against selling pressure. A break above allows further rebound, but if the price cannot make a Higher High above $4,696–$4,673, caution regarding a correction remains. However, it is assessed as a correction for further upside, with support levels at $4,583 and $4,556–$4,500 respectively.

Investment strategy: Take profit on long positions if prices fail to pass $4,633–$4,673; if it passes $4,673, delay selling until the next resistance level.

Open long positions again if price pullbacks hold above $4,583; if it breaks below, delay entering long positions until $4,556–$4,500 (Stop loss if price breaks below $4,500)

Key Factors Highlight

Gold prices experienced a sharp pull-back today toward the $4,600 per ounce level, under pressure from a rebound in the U.S. Dollar Index after headline PCE inflation came in higher than expected, while Core PCE aligned with forecasts. Nevertheless, despite the weakening price momentum, the downside is expected to remain limited, serving as consolidation for the next upward move. Gold continues to draw safe-haven support following aggressive signals from U.S. President Donald Trump toward Canada after bilateral trade negotiations collapsed.

Key Event to Watch: Federal Reserve Chair Kevin Warsh's speech on Friday, August 28, at 9:00 PM Thailand Time (14:00 UTC / 10:00 AM ET).