Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1809.02 with take profit at 1811.10
Bearish Preference:
A Sell position is envisaged if price trades below price 1806.52 with take profit at 1800.94
Fundamentals:
2:30PM Core CPI m/m
Comment:
Gold advanced amid dollar weakness ahead of the long weekend. Gold amongst all three major U.S. stock indexes ended the session green after waffling through much of the session, with investors showing little conviction as a raft of indicators pointed to economic softening, evidence that the Federal Reserve barrage of interest rate hikes were having their intended effect.
Analysis: SCRUM Team
