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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1929.29 with take profit at 1931.90
Bearish Preference:
Sell position is envisaged if price trades below 1923.10 with take profit at 1919.80
Fundamentals:
1:30pm USD Unemployment Claims
Comment:
Gold prices inched up on Thursday, as inflation worries intensified by the Ukraine war and mounting sanctions on Russia eclipsed pressure from the U.S. Federal Reserve’s aggressive policy stance. While there is “the guidance from the Fed that it wants to increase interest rates faster going forward, on the other side we still see inflation increasing.”
Analysis: SCRUM Team
