Spot gold held near $3,367 an ounce on Monday morning, preserving most of Friday’s strong advance.
The move followed remarks from Federal Reserve Chair Jerome Powell at Jackson Hole, where he noted that the balance of risks had shifted and conditions may warrant adjusting policy.
His statement reduced pressure from interest rates and kept buyers active across major markets. Activity in regulated futures showed strong participation.
CME Group’s August 22 bulletin recorded 196,851 Micro Gold contracts and 2,401 E-mini Gold contracts on Globex. The figures reflect solid engagement from traders ahead of the weekend.
Investment demand also remained firm. SPDR Gold Shares reported holdings of 956.8 tonnes, equal to 30.76 million ounces, as of August 22.
On the same day, iShares Gold Trust reported 451.7 tonnes. These official disclosures highlight that large investors continue to hold exposure despite recent volatility.
The Commodity Futures Trading Commission’s Commitment of Traders report for August 19 showed managed money accounts holding 173,388 long and 36,003 short positions in COMEX gold, with total open interest of 438,541.
This structure points to a positive bias without excessive speculative concentration, leaving scope for further gains if conditions support. Benchmark data confirmed price resilience.
The World Gold Council publishes LBMA reference levels that closed below Monday’s spot price, while the Shanghai Gold Exchange reported steady benchmark values in renminbi through the end of last week.
Together, these figures illustrate broad-based strength across major hubs. Technical indicators signal cautious optimism. On the four-hour chart, gold trades along the upper Bollinger Band and above short-term moving averages.
The Relative Strength Index is above 60, and the MACD is rising. On the daily chart, price holds above the middle band near the 50- and 100-day moving averages, with the RSI in the low 50s and MACD turning higher.
These signals support potential tests of $3,375 to \$3,390, with support marked at $3,350 and $3,335. The Global Liquidity Index NDQ, represented by the yellow overlay on the charts, rose into Friday before flattening overnight.
The move reflects the pause in price action and reinforces the current consolidation. Taken together, Powell’s comments, active futures trade, solid ETF holdings, and balanced positioning explain why gold has maintained recent gains.
With support visible on the charts and capital anchored in vaults, traders appear ready to defend key levels while awaiting U.S. economic data later this week.
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