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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1764.49 with take profit at 1766.92.
Bearish Preference:
Sell position is envisaged if price trades below 1755.62 with take profit at 1753.19.
Fundamentals: 3:00pm USD Prelim UoM Consumer Sentiment
Comment: Gold was up on Friday morning in Asia but was headed towards a second weekly loss. The focus is now on a U.S. Federal Reserve policy decision that could provide clues on when asset tapering will begin. The U.S. currency was boosted by data released on Thursday that showed that U.S. core retail sales grew 1.8% month-on-month and retail sales grew 0.7% month-on-month in August.
Analysis: SCRUM Team
