Skip to content 
Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1841.76 with take profit at 1843.89.
Bearish Preference:
Sell position is envisaged if price trades below 1836.55 with take profit at 1834.41.
Fundamentals:
None with high impact
Comment: Another week of strong gold buying has now raised the alarm bells given the risk of long liquidation should the yellow metal fail to hold onto its US CPI price boost above $1830. Driven by continued strong price action across the agriculture sector and more recently also precious metals in response to surging inflation. The risk of a quicker withdrawal of Fed stimulus supporting real yields and the dollar has for now reduced gold’s ability to build on the technical breakout.
Analysis: SCRUM Team
