Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1719.84 with take profit at 1722.52
Bearish Preference:
Sell position is envisaged if price trades below price 1713.72 with take profit at 1711.24
Fundamentals:
1:30pm USD PPI m/m
Comment:
Gold was down on Thursday morning in Asia, with expectations growing that the U.S. Federal Reserve could hike interest rates more aggressively this month to fight red-hot inflation as data released overnight showed the U.S. consumer prices index jumped 9.1% in June, the highest in four decades.
Analysis: SCRUM Team