Blog

Daily Market Analysis 08/10/2021: GOLD

14ce3c1c-32a5-4bae-a4db-7c26def933bd
Daily Analysis / Online Education

Daily Market Analysis 08/10/2021: GOLD

Instrument: GOLD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1760.92 with take profit at 1763.18
Bearish Preference: 
Sell position is envisaged if price trades below 1751.54 with take profit at 1749.31
Fundamentals:
1:30pm USD Average Hourly Earnings m/m
USD  Non-Farm Employment Change
USD Unemployment Rate

Comment: The dollar edged higher Friday ahead of the release of the highly-anticipated monthly U.S. jobs report, which looks likely to confirm assumptions that the Federal Reserve will start to normalize monetary policy in November. For now Gold is seen struggling at a consolidation between 1760 and 1752 price levels as both bulls and bears are still a bit sceptical about where the metal would head to next after the news.

Analysis: SCRUM Team

Leave your thought here

Your email address will not be published. Required fields are marked *

Select the fields to be shown. Others will be hidden. Drag and drop to rearrange the order.
  • Image
  • SKU
  • Rating
  • Price
  • Stock
  • Availability
  • Add to cart
  • Description
  • Content
  • Weight
  • Dimensions
  • Color
  • Additional information
  • Attributes
  • Custom fields
Compare
Wishlist 0
Open wishlist page Continue shopping