Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1756.96 with take profit at 1759.55.
Bearish Preference:
Sell position is envisaged if price trades below 1748.91 with take profit at 1746.29.
Fundamentals: No Major Fundamentals
Comment: Gold was down on Monday morning in Asia, hitting a more than five-week low. Meanwhile, the dollar strengthened and investors await the latest U.S. Federal Reserve policy decision. Gold futures were down 0.31% to $1,746.05 by 12:14 PM ET (4:14 AM GMT), after hitting $1,741.8, their lowest level since Aug. 12, earlier in the session. The dollar, which normally moves inversely to gold, edged up on Monday
Analysis: SCRUM Team