Spot gold fell 5.7% last week, the highest since July 2006, the largest weekly decline. From early January to late February, gold has accumulated nearly $ 90 without going through any one or a decent pullback, so the market's profit-taking pressure in the rapid release within a week.

This year, the gold trend show some independence, the U.S. dollar and crude oil and other commodity prices has been the correlation weakening. Despite the dollar index and crude oil, respectively, in the technical graphics build on the top and bottom of the form of medium-term, but much lower than the precious metals price volatility.

From the fundamental point of view, many factors pushing up the price of gold. For example to solve the Iranian nuclear issue caused a lot of delays in hedge funds into the gold market. Another example is the eve of Spring Festival, the Asian countries to maintain strong demand for physical gold, the situation has stimulated the market, bullish sentiment. Fund excessive speculation is the direct cause of the price of gold finished lower.

From the disk trend, increased volatility in recent weeks the price of gold is mainly attributed to the futures market. Comex gold futures position report, February 20, speculative net long more than the highest level in May last year moncler deutschland, the number of open contracts reached a record high on February 27 is further increased. At the same time, it is likely there are many speculative funds through the So, on Thursday and Friday and triggered large-scale profit-taking to be expected panic selling.

Time period from the point of view, the price of gold rose to $ 648 from $ 560 and $ 689 from $ 602 up to eight weeks have gone, but the callback much faster than I expected. As shown in photo, despite taking more than a month since the rapid rise, but gains in the mid-price of gold remained intact, I continue to call up channel is the main basis. At the same time ugg boots sale, short time to adjust the market place will help to lay the necessary foundation for the next step up. Therefore moncler jacken günstig, I expect gold prices fell this week in a strong inertia test Tongdaoxiagui - $ 635 area. If the steady rebound, can be seen as an excellent medium Jiancang time, when the upstream target at least $ 700 will point to the top. On the contrary, the depth below Tongdaoxiagui means further adjustment, but as long as 60 weeks moving average remained at the top still shows gains intact.

Operating strategy, bulls should continue on the sidelines, only to stabilize the price of gold rebounded above $ 635, wait for the market bottom signal issued only after the mid-long layout . Related Topics Articles：

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