Instrument: GOLD
Technical Analysis
Bearish Preference:
Sell is envisage if price trades below 1728.95 with take profit at 1720.14.
Bullish Preference:
Buy is envisaged if price trades above 1741.54 with take profit at 1750.36.
Fundamentals:
2:15pm USD ADP Non-Farm Employment Change
Comment: Gold inched down on Wednesday morning in Asia, with U.S. Treasury yields continued their fall and put pressure on the yellow metal.
Investors are also tracking the progress of a $1.9 trillion U.S. stimulus package. Proposed by President Joe Biden earlier in the year, the bill was passed by the House of Representatives during the previous week and is due to be debated by the Senate within the week
Analysis: SCRUM Team
