Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1862.56 with take profit at 1863.99
Bearish Preference:
A Sell position is envisaged if the price trades below 1855.92 with take profit at 1854.49
Fundamentals:
2:30pm : USD CPI m/m
Comment:
Gold prices sank about 0.6 percent on Monday, extending losses from last week. The anti-fiat yellow metal inversely tracked a boost to 2-year Treasury yields during the first half of the day. XAU/USD can be quite sensitive to the direction of US Treasury rates. That is because of gold’s inherent lack of return for holding the precious metal, compared to something that either pays a dividend or yield.
Analysis: SCRUM Team
