Instrument: Gold
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1789.00 with take profit at 1792.99.
Bearish Preference:
Sell position is envisaged if price trades below 1771.17 with take profit at 1768.05.
Fundamentals:
USD 1:30PM Core PCE Price Index m/m
USD 3:00PM Revised UoM Consumer Sentiment
Comment: Gold was up on Friday morning in Asia as investors digested mixed signals from U.S. Federal Reserve officials on interest rate hikes earlier this week, while awaiting U.S. inflation data due later in the day
In summary, the precious metal is now on a range on the hourly time frame as Investors now await the core personal consumption expenditure (PCE) price index, due later in the day, for further clues on rising inflation.
Analysis: SCRUM Team