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Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1871.65 with take profit at 1874.65.
Bearish Preference:
Sell position is envisaged if price trades below 1862.63 with take profit at 1859.34.
Fundamentals:
1:30pm USD Core Retail Sales m/m
USD PPI m/m
USD Retail Sales m/m
Comment: Gold was down on Tuesday morning in Asia, continuing its losses after falling to a near one-month low during the previous session. Investors now await a U.S. Federal Reserve policy decision for further clues on inflation and the central bank’s future monetary policy.
The dollar, which usually moves inversely to gold, inched down on Tuesday and benchmark U.S. 10-year Treasury yields slipped below 1.50% to near a three-month low.
Analysis: SCRUM Team
