Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1760.76 with take profit at 1762.30
Bearish Preference:
Sell position is envisaged if price trades below 1753.22 with take profit at 1751.34
Fundamentals:
3:00pm USD ISM Services PMI
6:15pm USD FOMC Member Quarles Speaks
Comment: Gold futures were trading lower Tuesday morning, at risk of halting a three-session advance, as a climb in yields for government debt and a stronger dollar combined to knock the precious metal lower, in what has mostly been mostly bumpy but rangebound trading. Monday’s gains for gold were at least partly attributed to tensions between China and Taiwan, which boosted safe-haven demand for the precious metal.
Analysis: SCRUM Team