Instrument: GOLD
Bullish Preference:
Buy position is envisaged if price trades above 1968.16 with take profit at 1972.13.
Bearish Preference:
Sell position is envisaged if price trades below 1962.39 with take profit at 1957.64.
Fundamentals:
2:30pm
USD Unemployment Claims
Comment:
Gold prices on Thursday, paused a recent recovery rally after stronger-than-expected U.S. retail sales data brewed some uncertainty over the path of U.S. monetary policy.
The yellow metal fell slightly on Wednesday after two straight days of strong gains, as the dollar recovered from a 2-½ month low and Treasury yields stemmed recent declines.
Safe haven demand for gold was slightly aided by high-level U.S.-China talks, as Presidents Xi Jinping and Joe Biden met in San Francisco.
Analysis: SCRUM Team