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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1879.92 with take profit at 1883.16.
Bearish Preference:
Sell position is envisaged if price trades below 1861.99 with take profit at 1855.89.
Fundamentals:
USD 2:45 PM Flash Manufacturing PMI
Comment: Gold was down on Friday morning in Asia as an improving economic outlook broadened investors’ risk appetite. However, a weaker dollar and growing inflationary pressure capped losses and set the yellow metal on track for a third consecutive weekly rise.
Analysis: SCRUM Team
