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Instrument: GOLD
Technical Analysis
Bullish Preference: Buy position is envisaged if price trades above 1933.84 with take profit at 1938.70 .
Bearish Preference: Sell position is envisaged if price trades below 1923.92 with take profit 1918.06 .
Fundamentals:1:30pm USD Core PCE Price Index m/m
USD Unemployment Claims
2:45pm USD Chicago PMI
Comment: Gold prices fell in range-bound trade on Thursday, although the safe-haven metal was set for its biggest quarterly gain since September 2020, as the Russia-Ukraine conflict dampened risk appetite and lifted bullion’s appeal. Gold traders are balancing out with potential for further gains based on geopolitical risk and possibly inflation, and the dangerous outlook for gold holdings with rising interest rates and the net result has once again been that we’ve returned to the middle of the trading range.
Analysis: SCRUM Team
