Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1861.11 with take profit at 1864.93.
Bearish Preference:
Sell position is envisaged if price trades below 1853.26 with take profit at 1848.78.
Fundamentals:
4pm USD JOLTS Job Openings
USD Prelim UoM Consumers Sentiments
Comment: Gold was down on Friday morning in Asia, but was set for its biggest weekly gain in six months as continuing concerns about high inflation in the U.S. capped some losses the yellow metal. In the absence of high-tier macroeconomic data releases, a positive shift in market sentiment could help the Yellow Metal stage a rebound ahead of the weekend. However, this would be greatly determined by the fundamental data which would be released later today.
Analysis: SCRUM Team