Physical gold sales dropped drastically, gold continued to pressure
Weekly market is a vision Akoya pearls of the U.S. economic recovery accept last week's rally in the dollar index briefly on the red near the 79.30 resistance, so that commodity prices continue to fall, dragging down the sharp decline in international spot gold price of gold and again test a low 940 ~ 945 U.S. dollars / ounce range of support. The domestic price of gold fell to 208 yuan / g near the oscillation finishing.
From the fundamental point of view, recent data showed the U.S. economy is gradually improving some, suggesting that the recession is nearing an end, so that increased confidence in the market. However, the current U.S. economy is still fragile and the recent Fed rate hikes is obviously not need to be considered. Concerns about the Fed's statement issued after the views of the economy and whether the current quantitative easing policy adjustments. If from the end of this year or early next year are to raise interest rates to imply, or will provide strong support for U.S. dollars.
In addition, the recent gold sales in many areas of the same period last year appeared in a substantial reduction in the Middle East, Bedi further decreased to 40%. Meanwhile, the euro zone central banks last week's gold reserves to reduce three million euros and gold ETF funds continued to lighten up, showing physical gold on both sales and investment demand appears weak, short-term or will make gold remain under pressure. (River platform gold Wenjie, CHEN Zhi-hao)
Technical Analysis
From a technical point of view the trend, Japanese figure Cultured pearls shows that high price of gold down, in the 940 ~ 945 U.S. dollars / ounce (66-day moving average) in the vicinity slightly stabilized by the support. High Pearl jewelry technical indicators continued to drop, indicating there is still downside gold afternoon.
The original proposal to hold an empty single-sustainable, the top of the resistance to move under 955 U.S. dollars / ounce near the bottom of target 930,920 U.S. dollars / ounce.
The long term and more investors proposed to maintain the sidelines, waiting for the end of the current round of gold down, steadied up again when considering admission.
From the fundamental point of view, recent data showed the U.S. economy is gradually improving some, suggesting that the recession is nearing an end, so that increased confidence in the market. However, the current U.S. economy is still fragile and the recent Fed rate hikes is obviously not need to be considered. Concerns about the Fed's statement issued after the views of the economy and whether the current quantitative easing policy adjustments. If from the end of this year or early next year are to raise interest rates to imply, or will provide strong support for U.S. dollars.
In addition, the recent gold sales in many areas of the same period last year appeared in a substantial reduction in the Middle East, Bedi further decreased to 40%. Meanwhile, the euro zone central banks last week's gold reserves to reduce three million euros and gold ETF funds continued to lighten up, showing physical gold on both sales and investment demand appears weak, short-term or will make gold remain under pressure. (River platform gold Wenjie, CHEN Zhi-hao)
Technical Analysis
From a technical point of view the trend, Japanese figure Cultured pearls shows that high price of gold down, in the 940 ~ 945 U.S. dollars / ounce (66-day moving average) in the vicinity slightly stabilized by the support. High Pearl jewelry technical indicators continued to drop, indicating there is still downside gold afternoon.
The original proposal to hold an empty single-sustainable, the top of the resistance to move under 955 U.S. dollars / ounce near the bottom of target 930,920 U.S. dollars / ounce.
The long term and more investors proposed to maintain the sidelines, waiting for the end of the current round of gold down, steadied up again when considering admission.