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BFSforex: Gold prices this week will likely wear under $ 1,1

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BFSforex: Gold prices this week will likely wear under $ 1,1

Postby bfsforex » Wed Dec 04, 2013 7:46 am

Into the last month of 2013 , the price of gold remains weak U.S. manufacturing data to deepen the market for the ideal vision of the Fed's exit , the U.S. dollar was supported against most of the major currencies, the price of gold fell yesterday , the highest $ 1,250.7 opening price , fell to the lowest 1217.5 U.S. dollars , slightly rebounded to $ 1,219 last closing level . However , this morning, after a low of $ 1,217.75 to maintain hovering at $ 1,220 level . SPDR in the past two days is not further reduce positions , though, so the earlier news that , SPDR Gold major shareholder John Paulson has stated that God does holdings of gold , the reason is unknown when inflation is coming from this shows that large investors are on the sidelines , even slightly bearish on gold short-term performance .
Although there are four central bank announced this week to discuss interest rates , but the impact of the U.S. economic data are not and , in particular, the employment data released by the Labor Department on Friday , yesterday announced November ISM manufacturing index reflecting the U.S. manufacturing sector continues to recover, and if so the job market also further improved , the Fed may cut back even earlier asset purchase program in the first quarter of next year . Currently the price of gold from the June 28 low of $ 1,180 is only about $ 40 , yesterday's ISM data has led to the price of gold fell $ 33 , not to mention the U.S. non- farm payrolls data .
Speculators are being deployed by the U.S. employment data in one fell swoop would push up the price of gold below $ 1180 once the hole in the bottom , it will certainly lead to a Stop Loss Order comes into play, it is very likely occur this week, the price of gold since May biggest single-day decline , investors are advised to take sell rallies strategy, yesterday's high of $ 1,250.7 should become strong resistance , due to the volatility of the price of gold is expected to be expanded, it must be farther stop Loss Order , for example , at least at $ 1,234 or more , fell in 1146 and the tentative target $ 1060 . Gold prices, silver prices will naturally be under pressure , the low of June 23 believe it will fall $ 18.19 , $ 20 will be strong resistance , propose to the bit above the stop-loss selling rallies , target 18.00 and $ 16.75 .
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