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Daily Market Analysis 28.10.2022: GOLD

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Instrument: GOLD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if the price trades above 1657.36 with take profit at 1659.67
Bearish Preference: 
Sell position is envisaged if the price trades below 1648.57 with take profit at 1645.78
Fundamentals:
1:30pm USD Core PCE Price Index m/m

Comment: 
Gold prices fell slightly on Friday as the dollar recovered on stronger-than-expected third-quarter U.S. GDP data, while copper prices were set for a third straight week of gains on fears that supply will tighten in the coming months.

Analysis: SCRUM Team

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