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Instrument: GOLD+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above price 2001.15 with take profit at 2007.01
Bearish Preference:
A sell position is envisaged if the price trades below price 1988.52 with take profit at 1982.85
Fundamentals:
1:30pm USD Unemployment Claims
Comment:
Gold hovers below $2,000 as rate hike jitters increase Gold prices traded below key levels on Thursday, coming under pressure from a resurgence in the dollar and mounting expectations that major central banks across the globe will keep raising interest rates in the near-term. Hotter-than-expected inflation in the UK cemented expectations for more rate hikes by the Bank of England, while markets also began to price in a greater chance of more hikes by the Federal Reserve in the next two months.
Analysis: SCRUM Team
