Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1866.67 with take profit at 1869.91
Bearish Preference:
Sell position is envisaged if price trades below 1850.24 with take profit at 1846.25
Fundamentals:
No Major Fundamental
Comment:
Gold was up on Monday morning in Asia, hitting a more than one-week high. A weakening dollar continued to support the greenback-priced yellow metal, even as rising U.S. Treasury yields capped gains. The U.S. Federal Reserve will also release the minutes from its latest meeting due on Wednesday. St. Louis Fed President James Bullard has already repeated his view during the past week that the U.S. Fed should hike interest rates to 3.5% in 2022 to control inflation quicker.
Analysis: SCRUM Team