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Daily Market Analysis 13|01|2021: GOLD

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Daily Analysis / Online Education

Daily Market Analysis 13|01|2021: GOLD

Instrument: GOLD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1875.86 with take profit at 1889.77
Bearish Preference: 
Enter a Sell position if price trades below 1843.81 with take profit at 1830.74
Fundamentals:
2:30pm USD CPI m/m
USD Core CPI m/m

Comment: Gold was up on Wednesday morning in Asia, with both the dollar and U.S. Treasury yields hitting the pause button in their recent rallies.
The U.S. economy could see a strong rebound in the second half of this year as vaccinations become widely available, but COVID-19 is still driving the economy and monetary policy will remain accommodative.

Analysis: SCRUM Team

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