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[goldhj]

International gold price yesterday dropt from a high point, once approached 1277 and started to drop, at the end of U.S. trading time, gold price has dropt to about 1263; in today’s Asian trading time, gold raised from bottom, currently closed at 1264USD/oz.
Yesterday, ECB cut 10bp again and bought ABS at the same time, which boost USDX up and created 83.97 new record. Although U.S. August ADP employment is not as good as expected, gold price is still weak facing the strong USDX. U.S. August non-farm payrolls data that is about to be released will affect gold price directly, currently gold daily chart price is making a low correction, 1260 provides some support, while 1270 is a resistant point, band trade would be a good choice during violent market fluctuation.(gold jinyu)