The gold prices have been at its lowest, there are still very confusing signs for any further movement, must wait for a while.
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The gold prices have been at its lowest, there are still very confusing signs for any further movement, must wait for a while.
International gold price raised from a bottom line yesterday, made a sharp rebound from 1190 to 1200. At the end of U.S. trading time climbed to about 1206, continuous fall gathered support for gold’s rebound. In today’s Asian trading, gold raised slightly and based around 1204.
U.S. September conference board employment trends index is better than expected, yet fed's employment market index doesn’t reach monthly average, added by the correction of USDX, gold recovered its loss and climbed to 1200. The job market, on the other hand, is still pressuring gold. Currently gold daily chart based around 1200, pressure comes from 1209, support from 1195.
International gold price dropt from a high point. Price once climbed to about 1230 during Europe trading time, then dropt to about 1223 and started basing in U..S trading time. Further raising suffered a blow, in today’s Asia trading time gold corrected at about 1220.
Latest initial jobless claim is better than the expectation, the four weeks average keeps going down indicates that job market is still steady. USDX enjoyed a boost and rebounded. Currently gold daily chart price made a long upper shadow and needs further correction. MACD signal and main line is going smooth, which indicates that violent fluctuation is possible, intraday band trade would be good. :ro_emote:
International gold price last trading day rebounded slightly andstabilized at about 1220, then climbed to 1225 and started correcting itself.The continuous rebound limited gold’s correction space, in today’s Asia tradingtime, gold rise rapidly, breached 1230 all the way up to about 1334.
U.S.September export price index released a couple days ago appears weak, whichindicates US dollar appreciation and oversea economy weakness effected U.S.economy badly. IMF, at the same time, keeps emphasize the slowing down ofglobal economy growth and anticipates that Fed will postpone its raising ofinterest rate. These data fueled gold’s rebound. USDX, on the other hand,started correcting. Currently gold still enjoys the rebound momentum while 1230is yet to be tested. Intraday trading doing long would be good. :bow: