Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1811.67 with take profit at 1814.64
Bearish Preference:
Sell position is envisaged if price trades below 1803.86 with take profit at 1800.58
Fundamentals:
No Major Fundamental
Comment:
Concerns around global growth helped the dollar start the week just off a 20-year high against its peers, making rival safe-haven gold less attractive for buyers holding other currencies. Although seen as an inflation hedge, gold is sensitive to rising U.S. short-term interest rates and bond yields, which raise the opportunity cost of holding bullion.
Analysis: SCRUM Team