A Short Term Outlook: XAU/USD (Gold); April 04, 2022

U.S. Factory Orders:

Today U.S. has schedueld to release Factory orders data at 1400 GMT/1930 IST. It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders. If ‘Actual’ greater than ‘Forecast’, it is good for currency.

Let’s see how Gold has reated during the previous data release:

March 03:

Feb 03:

Let’s check out key headlines from Russia –Ukraine:

  • A team of the International Committee of the Red Cross (ICRC) has not been able to reach the besieged city of Mariupol on Monday to evacuate civilians, a spokesperson said, citing security conditions.
  • Ukraine prosecutor general says events in Irpin, Bucha and other places will be investigated.
  • Ukraine prosecutor general says Rrussian forces have committed many crimes in Ukraine classifiable as ‘crimes against humanity’.
  • Putin signs decree with visa restrictions against ‘unfriendly countries’ in response to sanctions.
  • India’s MRPL buys 1 million barrels of Russian Urals crude for May loading.
  • We don’t want to create debt burden that will weigh on economy after war, says Ukraine finance minister.
  • UK says Truss will call for tougher sanctions.
  • EU urgently discussing new sanctions on Russia after Ukraine ‘atrocities’: statement. (AFP).
  • Zelenskyy appears in a video at Grammy, tells viewers: ‘Support us in any way you can’.
  • Hundreds of people had been killed in Bucha and other cities, including civilians who had been shot. Russia has denied allegations that it troops killed civilians in Bucha.
  • Ukraine President Zelenskyy says we should not have to ask world powers for weapons to defend ourselves, these weapons should simply be given to us.

Source: Times of india

Technical View:


  • Gold recovers shaply on Monday and remains well supported above $1,930 mark.
  • Today pair made intraday high at $1,936 and low at $1,915 mark.
  • A triple EMA on a day chart and H1 chart suggest up trend for the time being.
  • A sustained close above $1,938 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,921 will check further supports.


Take a look and do trade wisely!
Good Luck