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Gold price (XAU/USD) experienced moderate selling pressure during Friday's Asian trading session, slipping to around $4,580 per ounce. The precious metal pulled back from its recent three-month high following US inflation data that aligned with expectations. The readings reinforced market anticipations that the Federal Reserve may maintain a hawkish stance and consider further interest rate increases. This pullback highlights the ongoing sensitivity of gold to US monetary policy expectations and Treasury yields. Higher interest rates typically weigh on non-yielding bullion by increasing the opportunity cost of holding the metal. Investors are now turning their attention toward the upcoming Jackson Hole Symposium, searching for clearer signals from Fed officials regarding the future path of policy tightening. In the near term, gold's movement will heavily depend on commentary emerging from the Jackson Hole conference. Traders should monitor key technical support levels near $4,550 and resistance around $4,600. Strong hawkish rhetoric could trigger additional downside pressure, whereas any dovish surprises might reignite bullish momentum for the metal.
