Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1761.59 with take profit at 1763.57.
Bearish Preference:
Sell position is envisaged if price trades below 1752.33 with take profit at 1750.06.
Fundamentals:
3:00pm USD Prelim UoM Consumer Sentiment
Comment: Gold was up on Friday morning in Asia, but was set for a second consecutive weekly decline. Investors now await the U.S. Federal Reserve’s next monetary policy move. The latest U.S. economic data, released on Thursday, said the producer price index grew 1% month-on-month in July, the largest annual increase in more than a decade.
Analysis: SCRUM Team
