fbpx

Daily Market Analysis 22|03|2021: GOLD

Instrument: GOLD

Technical Analysis

Bearish Preference: 
A Sell position is envisaged if price trades below price 1725.82 with take profit at price 1721.64
Bullish Preference: 
A Buy position is envisaged if price trades above  1733.10 with a take profit at price 1737.42.
Fundamentals:
2:00pm USD Fed Chair Powell Speaks

Comment: Gold prices slipped on Monday as investors opted for alternative safe-haven assets such as the U.S. dollar and bonds after Turkey’s abrupt decision to replace its central bank head with a critic of high interest rates sparked financial uncertainty.
Fed Chairman Jerome Powell reiterated in a Wall Street Journal editorial that the Fed will continue to provide aid to the economy “for as long as it takes” with the recovery currently far from complete. He added the U.S. would pull out of the COVID-19 crisis “stronger and better, as we have done so often before.

Analysis: SCRUM Team

Leave a Comment

Your email address will not be published.

×
Free Online Class
Select the fields to be shown. Others will be hidden. Drag and drop to rearrange the order.
  • Image
  • SKU
  • Rating
  • Price
  • Stock
  • Availability
  • Add to cart
  • Description
  • Content
  • Weight
  • Dimensions
  • Color
  • Additional information
  • Attributes
  • Custom fields
Compare
Wishlist 0
Open wishlist page Continue shopping