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Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1897.03 with take profit at 1899.55.
Bearish Preference:
Sell position is envisaged if price trades below 1889.84 with take profit at 1886.96.
Fundamentals:
None with high impact on the commodity.
Comment: Gold was up on Wednesday morning in Asia as investors digested mixed inflation data from China and waited for similar data from the U.S. on Thursday.
Investors now await the U.S. core CPI index data for May due on Thursday for further clues on the U.S. Federal Reserve’s timeline to change its current dovish monetary policy.
Analysis: SCRUM Team
