Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1780.68 with take profit at 1782.21.
Bearish Preference:
Sell position is envisaged if price trades below 1775.83 with take profit at 1773.46.
Fundamentals:
No Major fundamentals
Comment: A stronger US dollar and the prospect of higher interest rates is not a good combination for gold. The precious metal tumbled more than 0.7% in the previous session on the back of Janet Yellen’s rate hike comments and is extending those losses today.
Analysis: SCRUM Team