Gold (XAUUSD) falls ahead of the Fed’s Jackson Hole Symposium

Gold (XAUUSD) prices continue to decline, moving towards 3,317 USD. Demand for safe-haven assets has weakened significantly. Find more details are in our analysis for 20 August 2025.

XAUUSD forecast: key trading points

• Gold (XAUUSD) is edging down, preparing to reach a new three-week low
• Easing geopolitical tensions and a surging USD have drawn part of market interest away from gold
• XAUUSD forecast for 20 August 2025: 3,311 and 3,265

Fundamental analysis

On Wednesday, gold (XAUUSD) prices fell to 3,317 USD per troy ounce, nearing their three-week low. Pressure on the metal came from expectations of easing geopolitical tensions and a stronger US dollar.

Earlier, US President Donald Trump stated that he does not plan to send ground troops but admitted the possibility of air support as part of efforts to resolve the conflict with Russia. Investors now focus on the upcoming speech by Federal Reserve Chairman Jerome Powell at Jackson Hole. Additional market cues may also come from the FOMC minutes due later on Wednesday.

Rate futures indicate the likelihood of two Fed rate cuts of 25 basis points each by the end of the year, with the first possibly coming in September.

The gold (XAUUSD) forecast is negative.

XAUUSD technical analysis

On the H4 chart, gold (XAUUSD) quotes continue to decline, trading around 3,317 USD per ounce, close to their three-week lows. Selling pressure intensified after unsuccessful attempts to consolidate above 3,345 and 3,359, confirming buyers’ weakness. Prices have reached the 3,311 support level, and a breakout would open the way to the next level at 3,265.

Since early August, gold has been in a downtrend, staying below the middle Bollinger Band. The bands are widening downwards, signalling sellers’ dominance. For recovery, bulls need to regain control of the 3,345-3,359 area; otherwise, the market will remain under pressure.

Summary

Gold (XAUUSD) prices are ready to hit three-week lows. The gold (XAUUSD) forecast for today, 20 August 2025, does not rule out intensified selling towards the target of 3,265 after breaking below 3,311.

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