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Instrument: GOLDs+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 2002.59 with take profit at 2004.38
Bearish Preference:
A sell position is envisaged if the price trades below price 1995.78 with take profit at 1994.29
Fundamentals:
No major Fundamentals
Comment:
Gold prices closed March at $1,969/oz., up 7.2% MoM. Despite sticky inflation, a more dovish-looking Federal Reserve rate hiking path after banking crisis as a result of U.S. banks collapse and Credit Suisse acquisition by UBS. That, coupled with the weakening U.S. dollar, have all played a part in flight to gold.
Analysis: SCRUM Team
