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Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1855.04 with take profit at 1857.22.
Bearish Preference:
A Sell position is envisaged if price trades below price 1849.95 with take profit at 1847.66.
Fundamentals:
USD 5:00PM FOMC Member Bullard Speaks
Comment:
Gold shot higher on Friday as the markets erupted in the aftermath of Thursday’s record-breaking US CPI number and escalating geo-political tensions around the Ukraine border. The US 10-year Treasury note is yielding about 1.95%, notably lower than the high seen on Friday at 2.06%. The Treasury curve is similarly seeing lower returns. Government bonds around the globe have been bought as investors rush to more secure securities, driving yields lower.
Analysis: SCRUM Team
