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Instrument: GOLD
Bullish Preference:
Buy position is envisaged if price trades above 1824.29 with take profit at 1825.48.
Bearish Preference:
Sell position is envisaged if price trades below 1821.51 with take profit at 1820.14.
Fundamentals:
1:30pm USD Unemployment Claims
Comment:
Gold can’t seem to put in a positive close these days, even when the dollar and Treasury yields are in retreat. Rallying yields and the dollar — the twin nemesis to gold — have practically wiped most, if not all, of gold’s shine this year, leaving Comex futures barely in the positive for 2023 and the spot market in red territory.
Analysis: SCRUM Team
