Gold consecutive starts by suppressing the gold market "to defend the long war"

Source: New People's Daily


Last Monday, the gold price shocks high of 979 U.S. dollars after the failed "high platform diving", after the decline, falling as low as 915 U.S. dollars, the current stable in the vicinity of 929 U.S. dollars. Fed officials pay close attention to the problem of inflation, short-term U.S. economic data turn for the better, the international oil prices fall, gold prices are declining triggered an important reason.

Earlier this week, U.S. Treasury Secretary Paulson reiterated that "strong dollar" policy, the Philadelphia Federal Reserve Bank president also delivered a Puluo Se will speed up the rate hikes to curb inflation remarks. Officials of the hard-line speech boosted the dollar, suppressing the price of oil, curbing gold's gains.

Second, the United States issued a series of economic data to consolidate the status of the dollar also hurt gold prices. For example, in terms of investment, the U.S. June durable goods orders increased by 0.8 percent, since last December, the biggest increase consumption, the United States in July the University of Michigan's final consumer confidence index reached 61.2, 6 than the end of a substantial increase in value of 56.4 ; Real estate market, new home sales in June to 530,000, higher than the forecast of 500,000 new home sales.

In addition, the U.S. government started to pay attention to issues of oil speculation, such as the drafting of bills related to the U.S. Congress, inhibit investors and speculators in the New York Mercantile Exchange energy futures market, and with Britain and other regulatory agencies in the fight against international energy futures market The wave of speculation. This very short period of time, oil prices from a high of 147 U.S. dollars fallen sharply. Oil prices fall, triggered the related investment in the commodity markets at low tide, the price of gold down the reasonable.

From graphics, the gold from New York was started Tuesday by the continuous pressure, just a few trading days will be below the 955 U.S. dollars, 943 U.S. dollars, 933 U.S. dollars several important support level. Currently, gold once again came to the 120-day MA near, I believe that in this location will be started "to defend the multi-war", and resolutely safeguard the dignity of longs. Technically, gold has been the rise from approaching the next track, and also by the week since the end of March since the formation of the support of the double bottom neckline, short-term, a strong rebound in demand. From the week online, last week's Yinxian can be seen as the neckline of a Huichou confirmed, the next two weeks compared certainty is that gold remains strong shocks inevitable, but as long as gold is no longer Further record lows, then the gold rally will not end. Recommended investors in the 916 to 920 U.S. dollars regional firm to do more, short-term goals-against 940 U.S. dollars. (Zhang ICBC Shanghai Branch)