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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1813.10 with take profit at 1814.82.
Bearish Preference:
Sell position is envisaged if price trades below 1807.26 with take profit at 1805.77.
Fundamentals:
No Major Fundamental
Comment: Gold markets were content to watch from the sidelines overnight, with gold finishing almost unchanged at USD 1814.00 an ounce, edging slightly lower today in Asia to USD 1811.50 an ounce. The failure of gold to hold gains in the face of even modest US dollar strength and ever-falling US yields is disappointing, but as long as USD 1790.00 an ounce holds on a closing basis, gold’s medium-term perspective still looks constructive.
Analysis: SCRUM Team
