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Daily Market Analysis 17|02|2021: GOLD

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Daily Analysis / Online Education

Daily Market Analysis 17|02|2021: GOLD

Instrument: GOLD

Technical Analysis

Bearish Preference: 
Sell is envisaged if price trades below 1786.99 with take profit at 1781.88
Bullish Preference: 
Buy is envisaged if price trades above 1795.91 with take profit at 1800.87
Fundamentals:
2:30pm USD Core Retail Sales m/m
USD Retail Sales m/m

Comment: Gold was down on Wednesday morning in Asia, continuing its decline for a fifth consecutive day. The safe-haven yellow metal is headed for its longest period of decline in almost a year, thanks to Treasury yields surging over expectations of a quick global economic recovery from COVID-19.

Analysis: SCRUM Team

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