Daily Market Analysis 12.01.2022: GOLD

Instrument: GOLD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 1824.38 with take profit at 1827.88.
Bearish Preference: 
Sell position is envisaged if price trades below 1813.55 with take profit at 1811.15.
2:30pm USD Core CPI

Comment: Gold was up on Wednesday morning in Asia. Investors shifted their focus to U.S. inflation data for interest rate hike clues after U.S. Federal Reserve Chairman Jerome Powell set a less hawkish tone and reiterated that the central bank would tackle inflation.

Analysis: SCRUM Team

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