Instrument: GOLD
Bullish Preference:
A buy position is envisaged if the price trades above 1947.08 with take profit at 1949.49.
Bearish Preference:
A sell position is envisaged if the price trades below 1938.54 with take profit at 1936.26.
Fundamentals:
No major Fundamental
Comment:
Gold prices rose slightly on Monday, extending gains from the prior session as mixed U.S. labor data cemented expectations that the Federal Reserve will keep interest rates on hold. This notion weighed on the dollar and treasury yield, allowing the yellow metal to appreciate on the prospect of fewer increases in its opportunity cost.
Analysis: SCRUM Team