Instrument: GOLD
Technical Analysis
Bearish Preference:
Sell is envisaged if price trades below 1845.65 with take profit at 1843.84.
Bullish Preference:
Buy is envisaged if price trades above 1859.06 with take profit at 1860.87.
Fundamentals:
No Major Fundamental
Comment: Markets were buoyant ahead of negotiations Tuesday between U.S. President Joe Biden and Republican senators on a new COVID support bill. “The U.S. stimulus story continues to be the half glass, which markets are happy to interpret as half full,” said Vishnu Varathan, head of economics in Asia at Mizhuo Bank in Singapore. The impact continues to leave investors in places as diverse as the U.S. and Singapore scrambling for the precious metals to meet demand.
Analysis: SCRUM Team