Skip to content 
Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1888.20 with take profit at 1891.49.
Bearish Preference:
Sell position is envisaged if price trades below 1879.31 with take profit at 1875.93.
Fundamentals:
No major fundamental.
Comment: Gold prices pulled back slightly during Monday’s Asia-Pacific trade after rising over 1% on Friday. Market participants are assessing comments by Treasury Secretary Janet Yellen, who showed her support for President Joe Biden’s $4 trillion spending plans even if inflation persists into next year. She also added that a “slightly higher” interest rate environment would be a “plus” for the US, reigniting fears about tapering Fed stimulus. As a result, the 10-year Treasury yield rebounded nearly 1% to 1.569%, reflecting reflation hopes.
Analysis: SCRUM Team
