Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1829.72 with take profit at 1832.14
Bearish Preference:
Sell position is envisaged if price trades below 1824.58 with take profit at 1822.86
Fundamentals:
2:00pm USD Fed Chair Powell Speaks
Comment:
Gold was up on Wednesday morning in Asia, supported by recession concerns as U.S. 10-year Treasury yields eased. Bullion was caught between pressure from prospects of higher interest rates and support from recession risks.
Analysis: SCRUM Team