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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1881.28 with take profit at 1884.55.
Bearish Preference:
Sell position is envisaged if price trades below 1873.31 with take profit at 1870.18.
Fundamentals:
2:30pm USD PPI m/m
Comment:
Gold was up on Tuesday morning in Asia, heading towards a three-month peak hit during the previous session. Fears that Russia will invade Ukraine continue to mount and investors pull back from riskier assets. Fed officials continue to debate how aggressive upcoming interest rate hikes should be ahead of their March 2022 meeting. The U.S. releases its producer price index (PPI) later in the day, with China releasing its own PPI and consumer price index a day later.
Analysis: SCRUM Team
