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Instrument: GOLDs
Bullish Preference:
Buy position is envisaged if price trades above 1929.17 With take profit at 1932.12
Bearish Preference:
Sell position is envisaged if price trades below 1921.48 with take profit at 1919.44
Fundamentals:
1:30pm USD Unemployment Claims
Comment:
Gold prices fell on Thursday after the Federal Reserve warned that U.S. interest rates will remain higher for longer, with investors sharply lowering their price expectations for the yellow metal in the coming months.
Jerome Powell warned that recent increases in inflation and resilience in the labor market give the Fed more headroom to keep interest rates higher. Powell also raised the possibility of at least one more rate hike this year.
Analysis: SCRUM Team
