Gold price analysis

[goldhj]

I'm going to post daily analysis here , if you interested in spot gold or want to trade spot gold you can contact me through facebook(gold jinyu) , skpye(goldjinyu1 or goldjinyu2) or yahoo messenger(jinyu gold) or you can visit my site hj9999.com

International gold price last trading day dropt slightly, temporarily raised to 1290 from 1285. Price corrected itself at the end of U.S. trading time. In today’s Asian trading time, gold based sideway. Gold price currently closed at about 1286USD/oz.
U.S. July core PCE price index released last Friday matched the expectation, plus the strong Manufacturing and consumer confidence, U.S. dollar index keeps strong. These strong data pressed gold to drop from a high point. Currently gold daily chart price correcting and basing sideway, MACD green bar converged to neutral axis, and market fluctuation is increasing, trading around 1280-1290 would be a good choice.:cheesy:

 

[ffsear]

Thanks goldhj, please keep all your daily analysis in this thread as opposed to starting a new thread each time.

i have amended the title for you

Cheers

 

[goldhj]

09.02 price trend analysis

Sept. 2nd gold price trend analysis
International gold yesterday went down slightly, once approached 1290USD/oz, but as the increasing pressure of price correcting, gold volatilized and went downside; in today’s Asian trading time, gold kept going down, currently closed at about 1283USD/oz.
As for information, Russia and Ukraine situation looks like a stalemate. Market showed a cool response, which makes gold harder to receive boost. On the other hand, U.S. index keeps raising and presses gold. Currently gold daily chart price is backing and consolidating, downside 1280 is facing the test, upside 1286 is offering a lot of pressure. Mainly trading short position in short term would be a good choice.

 

[goldhj]

Sept. 3rd gold price trend analysis

Sept. 3rd gold price trend analysis​

International gold price slumped yesterday, once reaching down to 1270 after broke 1280, then stabilized at 1263. In today’s Asian trading time, gold volatilized and rebounded slightly, currently closed at about 1267USD/oz.
U.S. July construction spending and August ISM manufacturing PMI are strong, boost U.S. dollar index all the way up, even once breached 83, also formed a great pressure against gold. Currently gold daily chart price started correcting itself after yesterday’s long declining line, there is a need of market correction after oversold, gold receives the support from 1263 and bear the pressure from 1273.

 

[goldhj]

Sept. 4th gold price trend analysis

Sept. 4th gold price trend analysis​

International gold price yesterday raised from a low point. After received support from downside price started to rebound and gained more support after breached 1270; in today’s Asian trading time, gold volatilized and went upside, currently closed at about 1272USD/oz.
U.S. July monthly factory orders released yesterday wasn’t as good as expected, U.S. dollar index was also dropt from high, these give gold an opportunity to rebound. Currently gold daily chart price after raised a little started to consolidate its support at about 1268, still 1278 gives a lot of pressure upon gold price.

 

[goldhj]

Sept. 5th gold price trend analysis


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.

 

[goldhj]

Sept. 10th gold price trend analysis


International gold yesterday raised from a low point, made a valley curve during U.S. trading time. Market price made surge after temporarily drop, collected yesterday’s loss and then started basing sideway. In today’s Asian trading time, gold corrected itself, currently closed at about 1256USD/oz.

The drop from high of USDX yesterday gave gold a opportunity to rebound, the drop also stimulated the mood of avoiding risks. Gold price slowed down its declining pace after several days’ basing sideway, daily chart gold price made along bottoming tail and Calatrava cross yesterday, the pressure from 1260 is still exist.

 

[malaguti]

Gold still under pressue as speculation over an early U.S. interest rate hike strengthened the dollar and dulled bullion's appeal.

Gold still under pressue as speculation over an early U.S. interest rate hike strengthened the dollar and dulled bullion's appeal.

 

[goldhj]

Gold still under pressue as speculation over an early U.S. interest rate hike strengthened the dollar and dulled bullion's appeal.

likely, gold keeps dropping and USDX keeps strong, still if you trade spot gold, you'll know that you can still make profit by trading short.

 

[goldhj]

Sept. 11th gold price trend analysis


International gold price volatilized and went downside, after rebounded to 1257 and then dropt again. Gold price broke 1250 later, which indicates that market bearish is in control. In today’s Asian trading time market corrected itself, currently closed at about 1248.

Due to the agreement of Ukraine government and its eastern armed militias and Russia’s withdraw, the risk avoiding mood dropt sharply. The USDX also formed a very strong pressure against gold price. Currently gold is weak, market bearish is in control, 1253 is the resistant point, 1243 is the support point, trading short when price is approaching resistant point would be a good choice.
:whistling

 

[goldhj]

Sept. 12th gold price trend analysis

International gold price dropt again and hit a new low after self correction. Price once rebounded, but under the pressure of market bearish, lost 1240 and kept declining; gold price keeps declining in today’s Asian trading time, currently closed at about 1233USD/oz.
As for information, EU announced sanction against Russia in order to make sure the peace process of Ukraine would go smoothly. Russia, on the other hand, emphasized that it will continue help the peace process to move forward, thus gold keeps declining. Currently USDX keeps strong, gold may find support at 1231, trading short would good.
:cheesy:

 

[Vicorka]

courtesy of http://www.marketvolume.com/

 

[goldhj]

courtesy of http://www.marketvolume.com/

thanks for contributing .

 

[goldhj]

gold jinyu Sept. 15th Gold Price Trend Analysis

International gold price volatilized and went downside last trading day, touched 1227 after broke 1230, closed at about 1230 at the end of U.S. trading time, market bearish is still the dominant party. Gold rebounded slightly in Asian trading time, currently closed at about 1231USD/lot.
U.S. August retail sales and CCI released last Friday(GMT+8) was good and improved the expectation of Fed’s raising interest rate, also pressed gold to hit a new low. Currently gold daily chart price is still weak after several days of declining. gold price now is facing pressure from 1236 and receiving support from 1226. Short term trading short would a good choice.
to know more you can visit hj9999.com

 

[goldhj]

Sept.8th ------12th Weekly Spot Gold Trend Review

This week international gold opened at 1268.67USD/oz. high at 1271.83USD/oz. low at 1227.20USD/oz, closed at 1228.10USD/oz, weekly declining 40.20USD, declining ratio 2.17%.
Gold this week kept declining. Stimulated by non-farming payroll at the beginning of this week, gold rebounded to 1271 and the kept declining all the way to about 1250 after broke 1265, then declined to 1240, gold price hit a new low after the increasing expectation of Fed’s raising interest rate.
This week’s U.S. retail sales and CCI kept good, Euro zone industrial output and inflation is tend to stable, these all weaken gold’s function of risk-averse abilities and hedging capabilities. Added by the improvement of Russia-Ukraine relationship and continuous humanitarian assistance that has been delivered to eastern Ukraine, gold encountered heavy selling pressure. The incoming Fed policy meeting will press gold to decline further.

 

[goldhj]

Sept. 16th gold price trend analysis

International gold price yesterday dropt from a relatively high point, once approached 1238 and then dropt to 1231. Gold price stabilized at about 1233 at the end of U.S. trading time, price once tried to rebound but suppressed by bearish market. In today’s Asian trading time, gold rebounded slightly, climbed up to about 1236.

U.S. September New York manufacturing index was strong, while August industrial output was not as good as expected, dragged USDX down from a high point, also lifted gold to rebounded and stopped its decline. Currently gold daily chart price created a small raise, MACD green bar is going smooth, traders should pay attention to the 1240 resistant point and 1230 support point. doing band trade would be a good choice.

 

[goldhj]

Sept. 17th gold price trend analysis


International gold yesterday fluctuated violently, Gold climbed to about 1240 then stabilized at 1232 during EU trading time. Price tried to climbed up to 1240 and stabilized at about 1235 at the end of U.S. trading time, in today’s Asian trading time, gold made a shock wave again, currently closed at about 1237.
U.S. August PPI is flat, annual rate also meet the expectation, mixed data can only has limited effect on USDX, short term USDX correction gives gold breathing space. Currently gold daily chart price’s rebound depends on the support received from 1230, while the U.S. data and Fed policy statement will make a great impact on gold price. Downside support will also be tested.

 

[goldhj]

Sept. 18th gold price trend analysis

International gold yesterday dropt from a high point, price broke 1230 since dropt from 1239 and dropt all the way down to about 1220, bearish controls the market, especially after Fed raised the interest rate expectation; in today’s Asian trading time, gold rebounded to about 1223USD/oz. and started basing sideways.

U.S. seasonally adjusted CPI in August is not as good as expected, yet monthly income is still strong. The Fed September policy statement contains neutral wording, emphasize that low interest will continue for a while after QE. As the raised interest rate expectation, market is anxious about the accelerating deflation, which pressed gold. Currently gold daily chart bearish controls the market, short term price bases sideway around 1216-1226, trading short when price rebounded would be a good choice.

 

[goldhj]

Sept. 19th gold price trend analysis

International gold price yesterday raised from a bottom point, stabilized at about 1215 after slightly drop during Europe trading time, price gained some of its losses and based sideways at about 1225 at the end of U.S trading time, in Asian trading time, gold dropt slightly again, currently closed at about 1220 and started basing sideways.

The U.S. last week initial jobless claim was better than expected, while August Housing Starts and Building Permits were not as good as expected, which dragged USDX down from a high point, also helped gold to cover some of its losses. Currently gold daily chart price started basing sideways, gold receive pressure from 1227 and support from 1217.

 

[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.