41 replies to this topic

[goldhj]

gold jinyu Sept. 22nd gold price trend analysis

International gold price continued to drop last trading day, once surged to 1227 then fell after that. Price broke 1220 later and during today’s Asian time even broke 1210, but gained a little after.

Due to the continuous strong USDX, Fed’s expectation of raising interest rate and the gradually calming geopolitics, gold suffered a slump and keeps dropping, currently gold daily chart price is still dominated by bearish, gold suffers the pressure from 1220 and receive some support from 1210.

[goldhj]

Sept. 23rd gold price trend analysis

International gold yesterday touched a bottom line and rebounded, received support from 1211 and started rebounding, raised to 1220 during U.S. trading time then dropt again and corrected itself at about 1215; in today’s Asian trading time, gold is slightly higher, correcting at about 1218.

U.S. August annualized existing home sales was not so good while Euro zone September CCI remains weak, which makes USDX strong and hit another record, gold on the other hand finds support after a few days of declining but still weak. Gold price might receive strong support from 1213 and get pressed by 1223, short term band trading would be a good choice.

[goldhj]

gold jinyu Sept. 24th gold price trend analysis

International gold price yesterday dropt from a high point, once surged to 1230 then dropt to about 1220 and started basing sideways. Market price fluctuation is getting violent due to the fight between market bearish and bullish. In today’s Asian trading time, gold based at about 1221.

U.S. July monthly HPI was not good as expected while September manufacturing PMI initial value kept expanding, which boost USDX to rebound and press gold to drop. Currently gold daily chart price is still facing a lot of pressure after gained some of its earlier losses. The pressure comes from 1226 and support comes from 1216.

[goldhj]

Sept. 25th gold price trend analysis

International gold price yesterday volatilized and went downside, once surged to 1225 then dropt. Price went all the way down to about 1217 and started basing sideways after broke 1220; in today’s Asian trading time gold kept declining, based at about 1213.

U.S. August new home sales made a big increase and boost USDX breached 85 and hit another new high, which also pressed gold decline again; besides multiple Fed officials made their speeches, their hawkish statements also formed a big pressure against gold. Currently gold daily chart price keeps weak, the support from 1210 is yet to be tested, on the other hand, 1220 will be the main resistant point.

[goldhj]

gold jinyu Sept. 26th gold price trend analysis

International gold price yesterday raised from a bottom line, market rebound is very clear after oversold, added by the slump of Euro-U.S. stock market, gold surged to above 1220 during U.S. trading time; in today’s Asian trading time market corrected itself and based around 1223.

The latest initial jobless claim is better than expected, yet August durable goods orders is weak, dragged USDX fall from a high point and lift gold from the bottom; continuous attacking Islamic states militants caused worries about regional conflict, with the slump of stock market, avoiding risks mood raised a lot and boost gold’s rebound. Currently gold daily chart market price volatilization is increasing after the lower wick and the MACD green bar shorten to neutral axis. The pressure comes from 1229 and the support from 1216.

[goldhj]

Sept. 29th gold price trend analysis

International gold price dropt from a high point last trading day, volatilized down to 1213 then rebounded. At the end of U.S. trading time, gold closed at about 1220, which indicates that gold is still weak; gold corrected itself at about 1218 in today’s Asian trading time.

U.S. second quarter GDP final value kept revising up to 4.6%, CCI is also strong, boost USDX to create hit a new record and press gold to make a correction. Currently gold daily chart started a horizontal price movement. MACD signal and value is merging, gold price now is facing the pressure from 1223 and receiving the support from 1213.

[goldhj]

Sept. 30th gold price trend analysis

International gold yesterday volatilized and went downside, once rebounded to 1220 then dropt. Price went to 1215 at the end of U.S. trading time, in today’s Asian early trading time, gold rebounded a little, and consolidated at about 1217.

U.S. August core annualized PCE price index and August monthly personal income expenses are better than expected, yet August pending house sales is not as good as expected. Under the combined influence, USDX is basing on a high point; gold , on the other hand, went downside. Currently gold daily chart market price keeps basing sideways after two days of dropping, the pressure comes from 1223 and the support comes from 1211.

[goldhj]

gold jinyu Oct. 6th gold price trend analysis

International gold price slumped last trading day, broke 1200 during U.S. trading time and went all the way down to 1190, market bearish controls the market, gold keeps weak. Today’s Asian trading time gold hit a new low then rebounded slightly and based around 1187USD/oz.

US Non-farm Payrolls released a few days ago was much better than expected and boost USDX hit a new record(86.75), gold on the other hand received a huge pressure and dropt all the way down to about 1180. The strong non-farm payrolls indicates that U.S. economy is getting better. The approaching of interest rate raising still threatens gold. Currently gold daily chart fall below 1190 and started basing, multiple weak data makes gold harder to rebound. The pressure comes from 1193, support from 1183.

[goldhj]

gold jinyu Oct. 7th gold price trend analysis

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.

[goldhj]

gold jinyu Oct. 8th gold price trend analysis

International gold yesterday kept rebounding, climbed to about 1213 after stabilized at 1203, at the end of the U.S. trading time gold corrected and declined slightly to 1209. In today’s Asian trading time, gold raised again all the way up to about 1214. Fed officials’ varied opinions of raising interest rate and IMF’s revising its global economic growth expectations give gold the support it needs to rebound. Currently gold daily chart price has climbed above 1210, the pressure is building up after the oversold rebound. Pressure comes from 1219, support from 1203.