Daily Market Analysis 15.03.2023: GOLD

Instrument: GOLD

Technical Analysis

Bullish Preference:  
A Buy position is envisaged if the price trades above 1920.10 with take profit at 1924.99
Bearish Preference: 
A Sell position is envisaged if the price trades below 1902.08  with take profit at  1899.36
1:30pm USD Core PPI m/m                     USD Core Retail Sales                 m/m
             USD Empire State                        Manufacturing Index
              USD PPI m/m
              USD Retail Sales m/m

Gold prices edged lower on Wednesday after falling from a six-week high in the prior session, as a mixed reading on U.S. inflation brewed some uncertainty over the Federal Reserve’s stance on monetary policy, while concerns over a banking crisis in the country persisted. U.S. consumer inflation eased as expected in February, data showed on Tuesday, but core inflation unexpectedly rose from the prior month – keeping the pressure on the Fed to tighten policy further.

Analysis: SCRUM Team

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