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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1875.86 with take profit at 1878.32.
Bearish Preference:
Sell position is envisaged if price trades below 1869.04 with take profit at 1866.05.
Fundamentals:
1:30 pm USD Philly Fed Manufacturing Index Unemployment Claims
Comment: Gold was down on Thursday morning in Asia but remained just below the four-month high hit during the previous session, as the U.S. Federal Reserve hinted that it has begun debating whether to taper its current dovish monetary policy.
The dollar, which usually moves inversely to the yellow metal, inched down on Thursday while benchmark U.S. Treasury yields rose to a one-week high after the minutes’ release
Analysis: SCRUM Team
