Instrument: GOLD+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 2024.54 with take profit at 2025.50
Bearish Preference:
A sell position is envisaged if the price trades below 2021.23 with take profit at 2020.31
Fundamentals:
None with High Impact
Comment:
Gold prices steadied above key levels on Tuesday, keeping to slim trading ranges as traders awaited more cues on the U.S. economy from key inflation data due this week, while concerns over a banking crisis and a potential recession remained in play. Gold consolidated around the US$ 2,020 handle going into Tuesday’s trading session after dipping last Friday as sways in risk sentiment appear to be driving the pricing of the precious metal. Treasury yields have ticked higher across the curve since the Federal Open Market Committee (FOMC) raised its target rate by 25 basis points to 5-5.25% last week.
source: investing.com