Instrument: GOLD+
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1815.21 with take profit at 1816.86
Bearish Preference:
A Sell position is envisaged if the price trades below 1809.77 with take profit at 1808.45
Fundamentals:
USD: CB Consumer Confidence 4PM
Comment:
Gold prices aimed cautiously higher on Monday after disappointing US durable goods orders data dented the US Dollar. Front-end Treasury yields aimed lower, hinting that markets cut back on hawkish Federal Reserve policy expectations. The resulting dip in the US Dollar and Treasury yields worked together to bolster anti-fiat gold prices.
Analysis: SCRUM Team
