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Daily Market Analysis 06.04.2022: GOLD

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Instrument: GOLD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1926.24 with take profit at 1928.30
Bearish Preference: 
Sell position is envisaged if price trades below  1914.18 with take profit at 1912.09  
Fundamentals:
7:00pm        USD FOMC Meeting Minutes

Comment: 
Gold prices dipped on Wednesday after the dollar and Treasury yields jumped to multi-year highs on hawkish comments from U.S. Federal Reserve officials and as cautious traders braced for the U.S. central bank’s minutes from its latest meeting.

Analysis: SCRUM Team

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