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Key Headlines To keep in Mind While Trading in Gold During U.S. Session; Dec 06, 2021

Key Headlines To keep in Mind While Trading in Gold During U.S. Session

Today’s U.S. Calendar is almost NIL as traders await further news on Omicron and guidelines implemented by the other Countries. Aprat from it, let’s have a look on other news.

  • U.S. Treasury yields rise off last week’s 2-1/2-month lows on news that those suffering from the Omicron COVID-19 virus only had mild symptoms.
  • Biden and Putin has a planned video call on Tuesday will review progress in relations since Geneva summit in June.
  • PBoC cuts banks reserve requirement ratio by 50bps Effective as of December 15th. According to PBoC, RRR cut to encourage banks to provide more help to small businesses.
  • President Joe Biden signed a short-term government funding bill into law on last Friday, preventing a shutdown. The measure will keep the government running through Feb. 18, 2022.
  • President Joe Biden wants to make at-home COVID-19 testing kits widely available — and free — this winter as the omicron variant emerges in a re-opening economy.

Technical View:

XAU/USD (Gold):

  • Gold moves in stiff boundareis on Monday and hovers around $1,780 mark.
  • Today pair made intraday high at $1,787 and low at $1,777 mark.
  • A day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $1,786 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,778 will check further supports.
SUPPORTS RESISTANCES
$1,772 $1,786
$1,767 $1,792
$1,762 $1,798
$1,757 $1,804
$1,752 $1,809

Take a look and do trade wisely!
Good Luck

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