The post Gold picks up pace, retargets $3,400 on USD selling appeared on BitcoinEthereumNews.com. Gold prices are climbing again, snapping Monday’s brief dip and pushing back toward the key $3,400 per ounce level. Dollar slide fuels the rally The renewed push higher comes as the US dollar resumes its downward trend, while mixed Treasury yields add to the momentum. Political jitters also lend support after President Trump’s shock move to fire FOMC Governor Lisa Cook reignited debate over the central bank’s independence. Fed easing hopes stay alive Traders continue to price in Fed rate cuts as soon as September, a view reinforced by Powell’s dovish tone at Jackson Hole last week. That helped bullion recover quickly after Monday’s pause. Data watch US Durable Goods Orders fell 2.8% in July, but the release barely moved the US Dollar. Attention now turns to the Conference Board’s Consumer Confidence numbers. Technical picture Resistance looms at the August ceiling of $3,409 (August 8), followed by the July peak at $3,439 (July 23) and the June top at $3,451 (June 16). On the other hand, support sits at the July base of $3,268 (July 30) and the June valley at $3,247 (June 30). A deeper pullback could expose the May trough at $3,120 (May 15), with the 200-day SMA at $3,062 as the key longer-term support. Source: https://www.fxstreet.com/news/gold-picks-up-pace-retargets-3-400-on-usd-selling-202508261240The post Gold picks up pace, retargets $3,400 on USD selling appeared on BitcoinEthereumNews.com. Gold prices are climbing again, snapping Monday’s brief dip and pushing back toward the key $3,400 per ounce level. Dollar slide fuels the rally The renewed push higher comes as the US dollar resumes its downward trend, while mixed Treasury yields add to the momentum. Political jitters also lend support after President Trump’s shock move to fire FOMC Governor Lisa Cook reignited debate over the central bank’s independence. Fed easing hopes stay alive Traders continue to price in Fed rate cuts as soon as September, a view reinforced by Powell’s dovish tone at Jackson Hole last week. That helped bullion recover quickly after Monday’s pause. Data watch US Durable Goods Orders fell 2.8% in July, but the release barely moved the US Dollar. Attention now turns to the Conference Board’s Consumer Confidence numbers. Technical picture Resistance looms at the August ceiling of $3,409 (August 8), followed by the July peak at $3,439 (July 23) and the June top at $3,451 (June 16). On the other hand, support sits at the July base of $3,268 (July 30) and the June valley at $3,247 (June 30). A deeper pullback could expose the May trough at $3,120 (May 15), with the 200-day SMA at $3,062 as the key longer-term support. Source: https://www.fxstreet.com/news/gold-picks-up-pace-retargets-3-400-on-usd-selling-202508261240