Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1882.39 with take profit at 1889.23
Bearish Preference:
A Sell position is envisaged if the price trades below 1858.00 with take profit at 1851.65
Fundamentals:
None with high impact
Comment:
Gold prices rose on Monday, sticking to a seven-month high after signs of a cooling jobs market pushed up expectations for a softer U.S. inflation reading this week and an eventual turn in the Federal Reserve’s hawkish rhetoric. Prices of the yellow metal surged on Friday after data from the Labor Department showed U.S. nonfarm payrolls grew at their slowest pace in a year in December. Readings for the previous two months were revised lower, while wage growth also eased.
Analysis: SCRUM Team
