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Daily Market Analysis 25|11|2020: GOLD

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Daily Analysis / Learning Strategies / Online Education

Daily Market Analysis 25|11|2020: GOLD

Instrument: GOLD

Technical Analysis

Bearish Preference: 
Sell if price trades below 1794.48 with take profit at 1774.96.
Bullish Preference:  
A buy is envisaged when price trades above 1831.98 with take profit at 1865.14
Fundamentals:
4:00pm    USD Revised UoM Consumer Sentiment
8:00pm    USD FOMC Meeting Minutes

Comment: Gold was down on Wednesday morning in Asia as investor risk appetite grows on vaccine hopes and turning away from safe-haven assets.
Investors are turning away from risk-averse assets as vaccine developments give confidence to economic outlooks across the globe. Safe-haven assets, such as gold, are being pushed down consequently.

Analysis: SCRUM Team

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