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Instrument: GOLDs
Bullish Preference:
A Buy position is envisaged if the price trades above 1953.52 with take profit at 1959.59
Bearish Preference:
A Sell position is envisaged if the price trades below 1943.22 with take profit at 1932.93
Fundamentals:
1:30 pm
USD Unemployment Claims
5:00 pm
USD Fed Chair Powell Speaks
Comment:
Gold prices retreated from over two-month highs on Thursday as caution before a speech by Federal Reserve Chair Jerome Powell somewhat offset safe haven demand fueled by the Israel-Hamas war.
The yellow metal appreciated sharply this week as an escalation in the Israel-Hamas conflict spurred concerns over a spillover into the broader Middle East region, which in turn fueled demand for conventional safe havens.
Analysis: SCRUM Team
