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Instrument: GOLD
Bullish Preference:
A buy position is envisaged if the price trades above 1933.22 With Take profit at 1937.83
Bearish Preference:
A sell position is envisaged if the price trades below 1927.34 with Take profit at 1923.21
Fundamentals:
6:01pm USD 10-y Bond Auction
Comment:
Gold prices steadied near one-month lows on Wednesday as worsening market sentiment and the prospect of more Federal Reserve rate hikes pushed investors into the dollar. Copper prices extended their recent losses as disappointing trade data from top exporter China pointed to weakening demand for the red metal.
Analysis: SCRUM Team
