Instrument: GOLD+
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1837.97 with take profit at 1841.01
Bearish Preference:
A Sell position is envisaged if the price trades below1829.86 with take profit at 1826.21
Fundamentals:
No Major Fundamental
Comment:
Gold prices firm as dollar rally cools, copper buoyed by China hopes. Gold prices hovered at an over one-week high on Thursday as weakness in the dollar benefited the yellow metal, while copper steadied after a strong rally this week on increasing optimism over a Chinese economic recovery. Bullion prices rose for three consecutive sessions from their weakest level this year, as a February rally in the dollar appeared to have run out of steam. The greenback fell sharply against a basket of currencies on Wednesday, also hit by some profit taking after rallying nearly 3% in the past month.
Analysis: SCRUM Team
