fbpx

Daily Market Analysis 08.02.2022: GOLD

Instrument: GOLDs

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 1819.63 with take profit at 1822.44.
Bearish Preference: 
Sell position is envisaged if price trades below 1816.01 with take profit at 1813.28.
Fundamentals:
No major Fundamental.

Comment: 
Gold futures are trading nearly flat early Tuesday, but prices remained near the previous sessions over one-week high. Helping to put a lid on gains are rising U.S. Treasury yields and a firmer U.S. Dollar. Thursday’s U.S. consumer inflation report (CPI) for January is expected to show an annual rise of 7.3%, which would be the largest such increase since 1982. The data is crucial for the Federal Reserve’s tapering timeline so a robust number could put pressure on central bank policymakers to attack inflation with aggressive tightening.

Analysis: SCRUM Team

Leave a Comment

Your email address will not be published. Required fields are marked *

×
Free Online Class
Select the fields to be shown. Others will be hidden. Drag and drop to rearrange the order.
  • Image
  • SKU
  • Rating
  • Price
  • Stock
  • Availability
  • Add to cart
  • Description
  • Content
  • Weight
  • Dimensions
  • Color
  • Additional information
  • Attributes
  • Custom fields
Compare
Wishlist 0
Open wishlist page Continue shopping