October gold futures were last down $2.80 at $1,782.90 and September Comex silver was last down $0.199 at $23.46 an ounce.
Next week’s annual Jackson Hole Fed symposium is likely to see some clarification on the Fed’s monetary policy and the timing of any upcoming actions by the Fed.
The surging coronavirus delta strain is keeping traders and investors more tentative, especially heading into what history shows can be the rough months of September and October for the stock markets.
Technically, gold bulls have the slight overall near-term technical advantage but need to show fresh power soon to keep it.
The next downside price objective for the bears is closing prices below solid support at the August low of $22.295.
Copper bulls’ next upside price objective is pushing and closing prices above solid technical resistance at 443.10 cents.