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Instrument: Golds
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1818.91 with take profit at 1821.41.
Bearish Preference:
Sell position is envisaged if price trades below 1810.20 with take profit at 1806.60.
Fundamentals:
USD 1:30PM Unemployment Claims
Comment: The pace of economic recovery from the COVID-19 pandemic and its impact on inflation and central bank policymaking continues to drive markets, with the U.S. Federal Reserve overnight signalling no immediate plans to tighten monetary policy.
Global bonds more broadly rallied, with the U.S. 10-year yield down around 7 basis points, extending price moves seen earlier in the week and leading to a “serious debate
The yield on 10-year Chinese sovereign debt posted its sharpest fall in nearly a year on Thursday, dropping to 2.998%, the lowest since August.
Analysis: SCRUM Team
