Gold fluctuated and fell during the European session after the release of the US weekly jobless claims data on August 17. It has now fallen below the support line of the lower Bollinger band of 2485. The data is lower than expected. Gold should have been bullish, but it fell instead of rising.
For this situation, my personal analysis is that the bulls may be accumulating momentum to fall back and rush higher.
The long-term trend of gold is definitely rising, but it will inevitably fluctuate and consolidate in the medium term.
Key resistance levels are 2498, 2512, 2522, and 2530.
Key support levels are 2483, 2473, 2463, and 2450.