Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1785.90 with take profit at 1789.39.
Bearish Preference:
Sell position is envisaged if price trades below 1778.50 with take profit at 1775.00.
Fundamentals:
2:45pm USD Flash Manufacturing PMI
USD Flash Services PMI
Comment: Gold was up on Wednesday morning in Asia after U.S. Federal Reserve Chairman Jerome Powell’s reassuring message that interest rates will not rise too quickly based only on the fear of coming inflation. However, a strengthening dollar curbed gains for the yellow metal.
Analysis: SCRUM Team