Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1788.72 with take profit at 1789.81.
Bearish Preference:
Sell position is envisaged if price trades below 1781.97 with take profit at 1780.54.
Fundamentals:
No major fundamental
Comment: Gold was slightly higher Friday morning in Asia, with a stronger dollar taking some of the luster from a recent rally in the yellow metal. this is due to the ongoing uncertainty caused by rising COVID-19 cases globally and the relentless spread of the Delta variant, which has proven to be supportive for gold, as it tends to rise in periods of uncertainty, but relatively positive economic figures out of the US have given the dollar a shot in the arm at the expense of gold.
Analysis: SCRUM Team