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Instrument: GOLD
Bullish Preference:
A buy position is envisaged if the price trades above 1907.64 With take profit at 1908.67
Bearish Preference:
A sell position is envisaged if the price trades below 1901.96 with Take profit at 1901.00
Fundamentals:
7:00pm USD FOMC Meeting Minutes
Comment:
Gold price flirts with the crucial support of $1,900 as investors await the Federal Open Market Committee (FOMC) minutes to attain guidance about inflation and the interest-rate peak. The precious metal continues to find offers from market participants as the US Dollar and Treasury yields strengthen due to the resilience of the US economy, which contrasts with China’s poor economic outlook.
Analysis: SCRUM Team
