Daily Market Analysis 02.08.2022: GOLD

Instrument: GOLD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 1776.82 with take profit at  1780.56
Bearish Preference: 
Sell position is envisaged if price trades  below 1767.87 with take profit at 1764.80
3:00pm    USD:  CB Consumer Confidence

The recent recovery in the price of gold looks poised to persist as US Treasury yields remain under pressure, and bullion may continue to retrace the decline from the July high ($1814) as the threat of a US recession puts pressure on the Federal Reserve to implement smaller rate hikes.

Analysis: SCRUM Team

Leave a Comment

Your email address will not be published.

Free Online Class
Select the fields to be shown. Others will be hidden. Drag and drop to rearrange the order.
  • Image
  • SKU
  • Rating
  • Price
  • Stock
  • Availability
  • Add to cart
  • Description
  • Content
  • Weight
  • Dimensions
  • Color
  • Additional information
  • Attributes
  • Custom fields
Wishlist 0
Open wishlist page Continue shopping