Gold prices fell on Tuesday, pressured by the stronger U.S. dollar and profit-taking. It closed at around $1,284 an ounce after crossing over $1,290. The dollar's rise on Tuesday was led by gains against the euro, which weakened after a German investor confidence index fell in August, picking up gold’s losses. The highlight of the trading week will be the annual central bankers meeting held in Jackson Hole, Wyoming, on Friday. Bullion is expected to see seesaw trading within recent trading range. Any escalated tensions in North Korea would break the pattern, prompting safe-haven moves into gold. Vice versa, any eased tensions would send prices lower.
On technical front, gold can hardly cross over the key resistance of $1,300. Moreover, a dead cross is about to form in the bar chart, suggesting a bearish tone. The next support can be found at $1,260.
Silver closed down, lingering around $17. Technically, the MACD and momentum index still pointed to a bearish tone. The resistance and support can be found at $17.2 and $16.5 respectively.

 
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