Instrument: GOLD
Bullish Preference:
Buy position is envisaged if price trades above 1860.65 with take profit at 1864.95
Bearish Preference:
Sell position is envisaged if price trades below 1853.28 with take profit at 1848.54
Fundamentals:
No High Impact
Comment:
Gold rose about 1.6% on Monday, its biggest one-day jump in five months, as military clashes between Israel and Palestinian Islamist group Hamas boosted demand for safe-haven assets and oil.
It hit its highest in more than a week Tuesday, a day after posting sharp gains on increased market uncertainty due to conflict in the Middle East, as dovish remarks from top U.S. Federal Reserve officials weighed on the dollar and bond yields.
The conflict is threatening more volatility for investors, adding to uncertainty ahead of the corporate earnings season and crucial U.S. inflation data this week.
Analysis: SCRUM Team
