Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1838.63 with take profit at 1840.94.
Bearish Preference:
Sell position is envisaged if price trades below 1829.92 with take profit at 1826.92.
Fundamentals:
1:30 pm USD CPI m/m
USD Core CPI m/m
Comment: Gold was down on Wednesday morning in Asia against continued gains in both the benchmark U.S. 10-year Treasury yield and dollar. Investors also await U.S. inflation data for April later in the day. The U.S. 10-year Treasury yield jumped to more than a one-week high. The dollar, which normally moves inversely to gold, inched up on Wednesday but trading near the lowest levels of 2021.
Analysis: SCRUM Team
