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Instrument: GOLD
Bullish Preference:
A Buy position is envisaged if the price trades above 1894.16 with take profit at 1897.62
Bearish Preference:
A Sell position is envisaged if the price trades below 1890.61 with take profit at 1887.29
Fundamentals:
No major Fundamental
Comment:
Gold is presently at a 5-month low, this is due to the US yields and further increase in stabilization of the US Dollar. Gold is reacting to the weakness in China’s economy and the weakness in its industrial data. Also, FOMC meeting minutes also suggested further increases to U.S. interest rates
Analysis: SCRUM Team
