Gold Weakens Drastically As Russia – Ukraine Talks Now in Practical Phase, U.S. JOLTS Job Openings Data in focus; March 29, 2022

Key U.S. Indicator To Keep In Mind While Trading In Gold During U.S. Session:

Today U.S. has scheduled to release JOLTS Job opening data at 1400 GMT/1930 IST. This data can impact the market because job openings are a leading indicator of overall employment. ‘Actual’ greater than ‘Forecast’ is good for currency.

Let’s see how gold has reacted during the previous data release:

March 09:

Feb 01:

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

• Talks between Ukraine and Russia began in Turkey on Tuesday without a handshake, Ukrainian television reported.
• Ukraine, Russia hold new talks aimed at ending the fighting.
• Sooner or later Russia and US will need to talk about strategic stability and security: Kremlin.
• Kremlin says foreign companies will need to buy Roubles and pay for gas in Roubles at time of ‘economic war’ against Russia.
• Ukrainian presidential adviser says main issue for Ukraine at talks is security guarantees, second is humanitarian issues. (Reuters).
• Top Russian negotiator Vladimir Medinsky says talks in Istanbul were constructive.
• Ukraine Negotiator Says There Needs To Be Full Peace Across Ukrainian Territory For Any Final Agreement With Russia To Come Into Force.
• Ukrainian negotiator Arakhamiya speaks to reporters in Turkey – BBG Ukraine: Crimea, Donbas areas remain disputed territories, Ukraine seeks guarantees outside Crimea, separatist areas.
• Ukraine Negotiator – all of this has been put to Russian side and we wait their official answer.
• Russia says Ukraine talks are now in practical phase – IFX.
• Russia to cut military activity near Kyiv, Chernihiv – IFX.
• Ukraine negotiator says Israel, Poland, Canada, Turkey could be among Ukraine security guarantors under new system.
• Ukraine negotiator says neutral status would include not having foreign military bases.
• Kyiv negotiators call for ‘international’ accord to guarantee Ukrainian security.
• The proposals would also include a 15-year consultation period on the status of annexed Crimea and could come into force only in the event of a complete ceasefire, the negotiators told reporters in Istanbul.

Source:Timesofindia

Technical View:

XAU/USD (GOLD):

• Gold spikes down sharply in early U.S. Session and touches $1,901 mark.
• Today pair made intraday high at $1,929 and low at $1,901 mark.
• A triple EMA on a day chart is up and H1 chart suggest bearish trend for the time being.
• A sustained close above $1,914 on H1 chart requires for the upside rally.
• Alternatively, a consistent close below $1,899 will check further supports.

 
Take a look and do trade wisely!
Good Luck