Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1864.27 with take profit at 1866.86
Bearish Preference:
A Sell position is envisaged if the price trades below 1858.32 with take profit at 1854.58
Fundamentals:
No Major Fundamental
Comment:
Gold prices fell to near one-month lows on Monday as traders awaited more cues on the U.S. economy from key inflation data due this week, while copper prices nursed steep losses amid growing uncertainty over an economic recovery in China. A new year rally in gold prices cooled over the past two weeks as markets reassessed their outlook for U.S. monetary policy. The Federal Reserve recently signaled that it plans to keep raising interest rates even as inflation softened in recent months.
Analysis: SCRUM Team
