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Instrument: Gold
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1790.52 with take profit at 1797.77.
Bearish Preference:
Sell position is envisaged if price trades below 1779.48 with take profit at 1775.41.
Fundamentals:
1:30 PM USD Final GDP q/q
Unemployment Claims
Comment: The yellow metal has since entered a window of time where the US Treasury yields gathers momentum with shifts on the US bond yield curve, further revealing a period with stronger short- and intermediate-term rates had been consistent with a stronger.
Although the precious metal is widely used as a hedge against fiat inflation, an interest rate hike from the U.S Central Bank increases the opportunity cost of holding it.
Analysis: SCRUM Team
