Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1783.08 with take profit at 1784.90.
Bearish Preference:
Sell position is envisaged if price trades below 1776.82 with take profit at 1774.90.
Fundamentals:
No Major Fundamentals.
Comment: Gold was up on Tuesday morning in Asia, thanks to declines in both the dollar and U.S. bond yields that provided some support to the yellow metal. The dollar, which normally moves inversely to gold, was down on Monday and remained near the lower part of its recent range. Benchmark U.S. benchmark 10-year Treasury yields were also on a downward trend. In other precious metals, silver rose 0.5%, platinum gained 0.4% and palladium was up 0.3%.
Analysis: SCRUM Team