Gold a year low of diving

By the strong rebound in the dollar index the impact of yesterday's diving gold. Gold fell overnight Lun 33.52 U.S. dollars to close at 823.58 U.S. dollars / oz, overnight in New York gold futures fell 4.2 percent, or 36.50 U.S. dollars, to close at 830 U.S. dollars / ounce to 828.30 U.S. dollars following / oz, a new low this year.

At the same time, the international spot gold prices sharply lower, as of press time, the international spot price for 811 U.S. dollars / oz. China, the Shanghai Gold futures contract yesterday to 812 main Dieting is also a new low price of 182.82 yuan / g Open, fell 9.63 yuan, all other contracts a day shut Dieting, a gold futures market in the largest single-day decline and the lowest .

Analysis of the market, because gold has fallen below a key support level, the dollar is still strong, and gold sales season has not yet arrived, the recent gold may continue to fall, testing 800 U.S. dollars juncture.

A stronger dollar triggered diving gold

Recently, the U.S. dollar index very active, the dollar index rose last week to four months to the highest level, the euro hit 1.4880 against the dollar below the six month low. European Central Bank Tuesday said that the European economic slowdown faster than expected, Europe's weak trend may continue into the next few quarters. By the recent weakness in the euro zone economic pressure, the euro continued to weaken, investors worried about the continued deterioration of the euro zone economy, promote the strength of the U.S. dollar up, gold plunged into one of the main factors. At the same time, international crude oil futures prices since July 3 record 145.29 U.S. dollars / barrel the highest settlement price since dropped all the way, the stronger dollar and crude oil prices keep falling international gold makes the decline in domestic gold also fell below affected by this history Low, setting a new low this year.

In addition, the National Bureau of Statistics announced that CPI index in July rose 6.3 percent last year, the CPI in July dropped significantly, inflation is expected to slow down. Analysts believe that the CPI index for the gold and are related to the consumer price index and the decline in international commodity futures dropped sharply on the domestic gold to a certain pressure.

In addition, the Russian and Georgian military conflict has driven gold's attractiveness as an investment hedge, geopolitical tensions become one of the factors supporting gold.

At the same time, international other precious metals also drag down the gold, silver and palladium fell 4.31 percent and 3.16 percent. Fund-listed gold ETF with the volume also declined, the world's largest ETF fund with the amount has been reduced to below 9 million ounces.

800 U.S. dollars precarious juncture

As investors in the European economy is increasingly worried about the deterioration of sentiment, the U.S. dollar index rebounded sharply recently. Analysts said the gold market fear, with the prices did not stabilize signs, the recent trend is likely to remain weak. Gold quickly fell below support at 850 U.S. dollars, short to be popular Zhu Zhang, Europe and the United States time to test the 800 U.S. dollars juncture.

Green Futures analyst Shu-feng that the downward price trend has reversed, and the economic data released this week positive for the dollar, the dollar index this week is expected to reach 77 points, with New York gold short approach, gold may not take a firm 800 Dollar mark, gold is near 786 U.S. dollars since August 2007 to start up the highest point for 60 percent retracement, the gold may have some support. If below the point position, lowered gold only 700 U.S. dollars. The domestic gold Wednesday will seek to 180 yuan-rounded support. Operation, proposed a single-space, short-term goals-for 178 yuan, or 790 to 800 U.S. dollars in the corresponding international gold.

Source:金羊网-新快报Author: Zhang Yi