Thread: daily gold price trend analysis

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Sept. 18^th gold price trend analysis

International gold yesterday dropt from a high point, price broke 1230 since dropt from 1239 and dropt all the way down to about 1220, bearish controls the market, especially after Fed raised the interest rate expectation; in today’s Asian trading time, gold rebounded to about 1223USD/oz. and started basing sideways.

U.S. seasonally adjusted CPI in August is not as good as expected, yet monthly income is still strong. The Fed September policy statement contains neutral wording, emphasize that low interest will continue for a while after QE. As the raised interest rate expectation, market is anxious about the accelerating deflation, which pressed gold. Currently gold daily chart bearish controls the market, short term price bases sideway around 1216-1226, trading short when price rebounded would be a good choice.

International gold price yesterday raised from a bottom point, stabilized at about 1215 after slightly drop during Europe trading time, price gained some of its losses and based sideways at about 1225 at the end of U.S trading time, in Asian trading time, gold dropt slightly again, currently closed at about 1220 and started basing sideways.

The U.S. last week initial jobless claim was better than expected, while August Housing Starts and Building Permits were not as good as expected, which dragged USDX down from a high point, also helped gold to cover some of its losses. Currently gold daily chart price started basing sideways, gold receive pressure from 1227 and support from 1217.

International gold price continued to drop last trading day, once surged to 1227 then fell after that. Price broke 1220 later and during today’s Asian time even broke 1210, but gained a little after.

Due to the continuous strong USDX, Fed’s expectation of raising interest rate and the gradually calming geopolitics, gold suffered a slump and keeps dropping, currently gold daily chart price is still dominated by bearish, gold suffers the pressure from 1220 and receive some support from 1210.

International gold yesterday touched a bottom line and rebounded, received support from 1211 and started rebounding, raised to 1220 during U.S. trading time then dropt again and corrected itself at about 1215; in today’s Asian trading time, gold is slightly higher, correcting at about 1218.

U.S. August annualized existing home sales was not so good while Euro zone September CCI remains weak, which makes USDX strong and hit another record, gold on the other hand finds support after a few days of declining but still weak. Gold price might receive strong support from 1213 and get pressed by 1223, short term band trading would be a good choice.

International gold price yesterday dropt from a high point, once surged to 1230 then dropt to about 1220 and started basing sideways. Market price fluctuation is getting violent due to the fight between market bearish and bullish. In today’s Asian trading time, gold based at about 1221.

U.S. July monthly HPI was not good as expected while September manufacturing PMI initial value kept expanding, which boost USDX to rebound and press gold to drop. Currently gold daily chart price is still facing a lot of pressure after gained some of its earlier losses. The pressure comes from 1226 and support comes from 1216.

International gold price yesterday volatilized and went downside, once surged to 1225 then dropt. Price went all the way down to about 1217 and started basing sideways after broke 1220; in today’s Asian trading time gold kept declining, based at about 1213.

U.S. August new home sales made a big increase and boost USDX breached 85 and hit another new high, which also pressed gold decline again; besides multiple Fed officials made their speeches, their hawkish statements also formed a big pressure against gold. Currently gold daily chart price keeps weak, the support from 1210 is yet to be tested, on the other hand, 1220 will be the main resistant point.

International gold price yesterday raised from a bottom line, market rebound is very clear after oversold, added by the slump of Euro-U.S. stock market, gold surged to above 1220 during U.S. trading time; in today’s Asian trading time market corrected itself and based around 1223.

The latest initial jobless claim is better than expected, yet August durable goods orders is weak, dragged USDX fall from a high point and lift gold from the bottom; continuous attacking Islamic states militants caused worries about regional conflict, with the slump of stock market, avoiding risks mood raised a lot and boost gold’s rebound. Currently gold daily chart market price volatilization is increasing after the lower wick and the MACD green bar shorten to neutral axis. The pressure comes from 1229 and the support from 1216.

International gold price dropt from a high point last trading day, volatilized down to 1213 then rebounded. At the end of U.S. trading time, gold closed at about 1220, which indicates that gold is still weak; gold corrected itself at about 1218 in today’s Asian trading time.

U.S. second quarter GDP final value kept revising up to 4.6%, CCI is also strong, boost USDX to create hit a new record and press gold to make a correction. Currently gold daily chart started a horizontal price movement. MACD signal and value is merging, gold price now is facing the pressure from 1223 and receiving the support from 1213.

International gold yesterday volatilized and went downside, once rebounded to 1220 then dropt. Price went to 1215 at the end of U.S. trading time, in today’s Asian early trading time, gold rebounded a little, and consolidated at about 1217.

U.S. August core annualized PCE price index and August monthly personal income expenses are better than expected, yet August pending house sales is not as good as expected. Under the combined influence, USDX is basing on a high point; gold , on the other hand, went downside. Currently gold daily chart market price keeps basing sideways after two days of dropping, the pressure comes from 1223 and the support comes from 1211.

International gold price slumped last trading day, broke 1200 during U.S. trading time and went all the way down to 1190, market bearish controls the market, gold keeps weak. Today’s Asian trading time gold hit a new low then rebounded slightly and based around 1187USD/oz.

US Non-farm Payrolls released a few days ago was much better than expected and boost USDX hit a new record(86.75), gold on the other hand received a huge pressure and dropt all the way down to about 1180. The strong non-farm payrolls indicates that U.S. economy is getting better. The approaching of interest rate raising still threatens gold. Currently gold daily chart fall below 1190 and started basing, multiple weak data makes gold harder to rebound. The pressure comes from 1193, support from 1183.