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Daily Market Analysis 24.02.2022: GOLD

Instrument: GOLD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1948.44 with take profit at 1957.03 .
Bearish Preference: 
Sell position is envisaged if price trades below 1933.49 with take profit at 1922.82.
Fundamentals:
2:30pm USD Prelim GDP q/q
USD Unemployment Claims
6:00pm USD FOMC Member Mester Speaks

Comment: 
Gold was up on Thursday morning in Asia, hitting a near nine-month high earlier in the week. Investors turned towards safe-haven assets after Ukraine declared a state of emergency and Russia sent troops into eastern Ukraine. Separatists in Ukraine’s Donbass (Donbas) requested Russian help in repelling “aggression” on Wednesday. Ukraine responded by announcing compulsory military service and a state of emergency.

Analysis: SCRUM Team

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