Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1931.88 with take profit at 1933.42
Bearish Preference:
Sell position is envisaged if price trades below 1924.57 with take profit at 1920.53
Fundamentals:
No major Fundamental.
Comment:
There’s no two-ways about it: gold prices outperformed our expectations in Q1’22. Our rationale for not taking a bullish outlook on gold was, and still is, well-grounded: central banks, including the Federal Reserve, have begun to winddown pandemic-era stimulus efforts, with rate hike cycles just getting started. Oil & Gold Up: The 1st Quarter’s Price Charts. It’s mostly about inflation, the kind that was thought to be transitory last year but then turned out to be less than transitory.
Analysis: SCRUM Team