Instrument: GOLDs
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 2054.00 with take profit at 2058.75.
Bearish Preference:
A sell position is envisaged if the price trades below 2036.77 with take profit at 2032.62.
Fundamentals:
1:30pm
USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Unemployment Rate
Comment:
Gold prices hovered below record highs on Friday as traders locked in a measure of recent profits, with markets remaining cautious ahead of key U.S. labor data that is widely expected to factor into monetary policy. Spot gold prices hit a record high earlier this week after the Federal Reserve hiked interest rates, but outlined a more stringent, data-driven approach to hiking rates further. Markets took this as a sign that the central bank could potentially pause its year-long rate-hike cycle. (investing.com)
Analysis: SCRUM Team
