Gold consolidates as traders await Fed comments from Jackson Hole. After the precious metal gave up more than half of its recent gains, the bulls are seeking to hold above the major support (1680) from the daily chart as its breach could trigger a bearish reversal in the medium-term. An oversold RSI attracted some buying interest near the origin of a rally in late July. 1730 is an intermediate support and 1705 the bulls’ last stronghold. 1762 is the first hurdle to lift. Only a rally above 1790 could lead to an extended recovery.
