Key U.S. Indicators To Keep In Mind While Trading in Gold During U.S. Session
Today U.S. will come up with the building permits and housing start data 1230 GMT/1800 IST. Housing start is a leading indicator of economic health because building construction produces a wide-reaching ripple effect. For example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various construction services are purchased by the builder. This data is slightly overshadowed by Building Permits because they are tightly correlated and a permit must be issued before a house can begin construction.
Let’s see how Gold has reacted during the previous data release:
Let’s check out key headlines from Russia –Ukraine:
- Russia’s defence minister on Tuesday said Moscow was seeking to “liberate” east Ukraine, but accused the West of dragging out the military operation by supplying Kyiv with arms.
- Spanish Prime Minister Pedro Sanchez will travel to the Ukrainian capital Kyiv to meet with President Volodymyr Zelenskiy in the coming days, a government source said on Tuesday.
- Russia is starting new phase of its Ukraine operation – foreign minister.
- The Russian military has made a new demand to the Ukrainian defenders of Mariupol to lay down their arms.
- Russia calls on all Ukrainian forces to ‘immediately lay down arms’.
- Ukrainian Presidential adviser says new Russian offensive will fail, “They simply do not have enough strength.
- New Zealand imposes new sanctions on Russian banks.
Source: Times of india
- Gold moves in narrow range and consolidates around $1,975 mark.
- The pair made intraday high at $1,981 and low at $1,972 mark.
- A day chart is up and H1 chart with triple EMA suggests Bearish trend for the time being.
- A sustained close above $1,984 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,972 will check further supports.
Take a look and do trade wisely!