Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1805.74 with take profit at 1807.65.
Bearish Preference:
Sell position is envisaged if price trades below 1802.96 with take profit at 1800.89.
Fundamentals:
7:00pm USD FOMC Statement
Comment: Gold seesawed between tepid gains/minor losses and finally settled with modest gains on Tuesday. The Federal Reserve is set to leave its policy unchanged and provide hints about when it considers tapering down its bond-buying scheme. Rising inflation and an improving labor market provide hope, yet some signs of a slowdown and the spread of the Delta virus are worrying.
Analysis: SCRUM Team
