Gold consolidates the downside around $ 1325

The bears took a breather from the yesterday’s sell-off during the Asian trades, allowing gold to consolidate the downside, as focus shifts to the US data and Jackson Hole Symposium for next direction.

Gold awaits fresh impetus

Currently, gold trades modestly flat at 1325.40, hovering below 50-DMA now located at 1333 levels. The yellow metal stalled its downslide and now attempts a minor-recovery amid subdued trading activity around the greenback across the board, as the clam spreads before the Fed symposium – storm.

The Jackson Hole annual central bank symposium will be in the spotlight on Friday as investors look to get some clarity on the Federal Reserve's long term outlook for the US and global economies.

Gold Technical Levels                                   

The metal has an immediate resistance at 1333/34 (50 & 5-DMA) and 1339.57 (10-DMA). Meanwhile, the support stands at 1320 (round number) below which doors could open for 1315.76 (July 27 low).