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Daily Market Analysis 06.05.2022: GOLD

Instrument: GOLD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 1886.45 with take profit at 1889.04
Bearish Preference: 
Sell position is envisaged if price trades below 1878.16 with take profit at 1875.91

Fundamentals:
1:30pm USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Non-Farm Employment Change

Comment: 
Gold was down on Wednesday morning in Asia as U.S. Treasury yields rose and the upcoming policy decision from the U.S. Federal Reserve dented demand for the yellow metal.

Analysis: SCRUM Team

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