Selling pressure persists and intensifies below 4,600.GoldOANDA:XAUUSDNova-ScalperGOLDEN INFORMATION: Gold price (XAU/USD) attracts some sellers below $4,600 during the early European trading hours on Friday. The precious metal retreats from a three-month high as in-line US inflation data has reinforced the possibility of further Federal Reserve (Fed) rate hikes. Traders await Fed Chair Kevin Warsh's speech at the Jackson Hole Economic Symposium on Friday for fresh impetus. The core Personal Consumption Expenditures (PCE) Price Index inflation, the Fed's preferred inflation gauge, held steady at 3.3% YoY in July, the US Bureau of Economic Analysis (BEA) revealed on Wednesday. This figure came in line with market expectations. On a monthly basis, the headline PCE Price Index and the core PCE Price Index both rose by 0.2% in July. ⭐️Personal comments NOVA: On the short-term timeframe, successive lows are forming below the previous low; persistent selling pressure below 4600 remains in play. ⭐️SET UP GOLD PRICE 🔥SELL GOLD zone: 4641 - 4643 SL 4651 TP1: $4620 TP2: $4602 TP3: $4570 🔥BUY GOLD zone: 4544- 4542 SL 4534 TP1: $4560 TP2: $4588 TP3: $4620 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas. ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account