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Daily Market Analysis 20|05|2021: GOLD

Instrument: GOLD Technical Analysis Bullish Preference:  Buy position is envisaged if price trades above 1875.86 with take profit at 1878.32. Bearish Preference: Sell position is envisaged if price trades below 1869.04 with take profit at 1866.05. Fundamentals:1:30 pm  USD  Philly Fed Manufacturing Index Unemployment Claims Comment: Gold was down on Thursday morning in Asia but remained just below the four-month …

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Daily Market Analysis 18|05|2021: GOLD

Instrument: GOLD Technical Analysis Bullish Preference: Buy position is envisaged if price trades above 1873.99 with take profit at 1876.85. Bearish Preference: Sell position is envisaged if price trades below 1866.43 with take profit at 1863.84. Fundamentals:No Major Fundamental Comment:  Asian shares rose on Tuesday, shrugging off worries about an increase in regional coronavirus infections, while inflation jitters helped …

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Daily Market Analysis 11|05|2021: GOLD

Instrument: GOLDs Technical Analysis Bullish Preference: Buy position is envisaged if price trades above 1844.89 with take profit at 1849.51. Bearish Preference: Sell position is envisaged if price trades below 1836.31 with take profit at 1832.60. Fundamentals:No major fundamental.  Comment:  Gold finished almost unchanged overnight, climbing 0.25% to USD1835.50 an ounce, where it remains in Asia. The rise in …

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Daily Market Analysis 06|05|2021: GOLD

Instrument: GOLDs Technical Analysis Bullish Preference:  Buy is envisage if price trades above 1793.55 with take profit at 1795.56. Bearish Preference: Sell is envisaged if price trades below 1787.56 with take profit at 1785.48. Fundamentals:1:30pm USD Unemployment Claims Comment: Gold will likely stage a breakout one way or the other post the US Non-Farm Payrolls. The topside is more likely …

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Daily Market Analysis 05|05|2021: GOLD

Instrument: GOLD Technical Analysis Bullish Preference: Buy position is envisaged if price trades above 1780.68 with take profit at 1782.21. Bearish Preference: Sell position is envisaged if price trades below 1775.83 with take profit at 1773.46. Fundamentals:No Major fundamentals  Comment:  A stronger US dollar and the prospect of higher interest rates is not a good combination for gold. The …

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Daily Market Analysis 04|05|2021: GOLD

Instrument: GOLD Technical Analysis Bullish Preference:  Buy position is envisaged if price trades above 1786.47 with take profit at 1789.00. Bearish Preference: Sell position is envisaged if price trades below 1781.44 with take profit at 1778.85. Fundamentals:None with high Impact Comment: Disappointing ISM manufacturing PMI on Monday, along with a temporary dip in Treasury yields below 1.6%, saw gold kick …

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