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Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1811.11 with take profit at 1813.44.
Bearish Preference:
Sell position is envisaged if price trades below 1804.01 with take profit at 1802.07.
Fundamentals:
No major fundamental.
Comment: Gold was down on Wednesday morning in Asia. The dollar strengthened and fears about the recent surge in COVID-19 cases involving the Delta variant also eased, thus increasing investors’ risk appetite.
Elsewhere, Swiss customs data released on Tuesday said exports of gold to India edged higher in June, although remaining far below levels seen earlier in the year, while shipments to China fell.
Analysis: SCRUM Team
