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Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1780.60 with a take profit at price 1783.71.
Bearish Preference:
A Sell position is envisaged if price trades below price 1772.54 with a take profit at price 1769.57.
Fundamentals:
No major fundamental.
Comment: The price of gold pulls back from a fresh monthly high ($1798) as the 10-Year US Treasury yield defends the April low (1.53%), but the Federal Reserve interest rate decision may keep gold prices afloat as the central bank relies on its non-standard tools to achieve its policy targets.
Analysis: SCRUM Team
