ANALYSIS
NQ100 Finds Support from PPIApr 14
Demand for Ounce May Keep Alive with Political Tensions
The messages of some key members of the Federal Open Market Committee (FOMC) regarding tight monetary policy despite high inflation have put an ounce of gold under pressure. However, both the ongoing recession concerns in the global markets and the high tension regarding Taiwan on the US-China line continue to keep the demand for ounce gold alive. Technically, the psychological 1800 level will be critical in the yellow metal, which continues its rising channel appearance on the last trading day of the week. If it can pass over here with permanent closures, 1811 resistance can be brought to the agenda. Below, the 1774 and 1765 supports can be followed closely by the market players.
