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Instrument: GOLD
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 2013.17 with take profit at 2014.96.
Bearish Preference:
A sell position is envisaged if the price trades below 2007.70 with take profit at 2006.05.
Fundamentals:
3PM USD Prelim UoM Consumer Sentiment
Comment:
Gold prices steadied on Friday after reversing all their gains this week as sticky U.S. inflation data saw markets reassess their expectations for rate cuts from the Federal Reserve. A string of weak economic readings from the U.S. and China spurred steep losses in copper and other base metals, amid growing fears that an economic slowdown this year will crimp demand.
source: investing.com
