Instrument: GOLD+
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 2033.28 with take profit at 2038.51.
Bearish Preference:
Sell position is envisaged if price trades below 2021.09 with take profit at 2015.81.
Fundamentals:
1:30pm USD Core PPI m/m
USD PPI m/m
USD Unemployment Claims
Comment:
Gold pushes higher as inflation eases, recession fears rise. Gold prices rose in Asian trade on Thursday as softer-than-expected U.S. inflation data spurred bets on an early rate-hike pause by the Federal Reserve, while growing fears of a recession also supported safe haven buying. The yellow metal pushed further above the $2,000 mark this week, and was now about $50 away from a 2020 record high. Softer-than-expected U.S. consumer inflation data was the trigger for gold’s latest rally, as markets began pricing in the possibility that the Fed will pause its rate hike cycle as soon as June
Analysis: SCRUM Team