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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1931.18 with take profit at 1938.74.
Bearish Preference:
Sell position is envisaged if price trades below 1915.56 with take profit at 1907.00.
Fundamentals:
1:30pm USD PPI m/m
Comment:
Gold extended its slide on Tuesday as ceasefire talks between Russia and Ukraine reduced demand for safe-haven assets, while bets that the U.S. Federal Reserve may raise interest rates for the first time in three years added to pressure on gold. Gold prices are set to fall for a third straight session, which could be their longest losing streak since late January.
Analysis: SCRUM Team
