Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1932.02 with take profit at 1936.24.
Bearish Preference:
Sell position is envisaged if price trades below 1924.31 with take profit at 1920.17.
Fundamentals:
No Major fundamentals.
Comment:
Gold prices held steady on Tuesday as U.S. Treasury yields hit multi-year highs following an aggressive inflation stance by the Federal Reserve chairman, while an intensifying conflict between Russia and Ukraine supported bids for the safe-haven metal. There are no new inputs to materially move the price in Asia today, leaving gold stuck between higher U.S. yields and a ramp-up in risk-aversion sentiment,” said OANDA senior analyst Jeffrey Halley.
Analysis: SCRUM Team