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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1871.94 with take profit at 1873.72
Bearish Preference:
Sell position is envisaged if price trades below 1862.69 with take profit at 1860.94
Fundamentals:
2:30pm USD Philly Fed Manufacturing Index
USD Unemployment Claim
Comment: Gold was down on Thursday morning in Asia, but a weakening dollar and U.S. bond yields retreating from a three-week high capped the yellow metal’s losses. Investors remained concerned about central banks hiking interest rates faster than expected. The U.S. Federal Reserve will only complete asset tapering in mid-2022, Chicago Fed President Charles Evans Fed’s Evans says taper to take until mid-2022 to complete.
Analysis: SCRUM Team
