Instrument: Gold
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1812.85 with take profit at 1814.98.
Bearish Preference:
Sell position is envisaged if price trades below 1805.17 with take profit at 1801.67.
Fundamentals:
1:30pm USD CPI m/m
USD Core CPI m/m
6:01pm USD 30-y Bond Auction
Comment: Gold futures are trading nearly flat after giving up earlier gains as the U.S. Dollar turned higher and Treasury yields steadied ahead of the release of the U.S. consumer inflation report at 12:30 GMT Investors are navigating a busy week, with the onset of U.S. earnings season and a testimony by Federal Reserve Chair Jerome Powell, which will also be scrutinised for any indications on the timing of potential U.S. tapering.
Analysis: SCRUM Team