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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 1831.73 with take profit at 1830.22
Fundamentals:
3:45 PM Flash Manufacturing PMI
Comment:
Gold prices were pinned just above six-week lows on Tuesday, with traders holding off big bets in anticipation of more cues on monetary policy from the minutes of the Federal Reserve’s February meeting. Markets were also awaiting a slew of Fed speakers this week, as overheated U.S. inflation and strength in the jobs market put the central bank‘s policies squarely in focus.
Analysis: SCRUM Team
